US WEIGHS LIFTING SANCTIONS ON IRAN SHADOW FLEET TO ADDRESS SURGING COSTS

What happened: The US is weighing lifting sanctions on "shadow fleet" tankers tied to Russia and Iran to address surging costs, per multiple reports and a senior US official. Options include allowing blacklisted vessel sales to non-sanctioned operators. Key numbers: Diesel prices in the US up almost 16 percent in the last month. Why it matters: Soaring tanker rates make it cost-prohibitive for the US to sell energy to China and Europe. The move follows the US lifting sanctions on Russian diesel, which sparked a diplomatic crisis with Ukraine.

The US is weighing lifting sanctions on "shadow fleet" tankers tied to Russia and Iran to address surging costs, per multiple reports and a senior US official. Options include allowing blacklisted vessel sales to non-sanctioned operators.

Soaring tanker rates make it cost-prohibitive for the US to sell energy to China and Europe. The move follows the US lifting sanctions on Russian diesel, which sparked a diplomatic crisis with Ukraine.