The Trump administration is discussing exemptions that would let blacklisted tankers linked to Russia, Iran and Venezuela carry oil and petroleum products that are not themselves subject to American sanctions, with companies needing Treasury approval to employ the vessels, a US official told Reuters. Energy secretary Chris Wright raised the possibility in a video address to the World Petroleum Congress in Riyadh this week, according to consultancy Energy Aspects, and the reports were enough to knock more than 13 percent off COSCO Shipping Energy in Hong Kong and send China Merchants Energy Shipping and China Merchants Nanjing Tanker to their 10 percent daily downward limits.
Analysts doubt the practical effect: Clarksons Research counts 1,010 sanctioned oil tankers totalling 121 million deadweight tonnes, 17 percent of global tanker capacity, but SEB noted most are elderly and already trading, and Singapore broker Sentosa said mainstream charterers are unlikely to rush toward vessels that were sanctioned until five minutes ago, with European and British sanctions staying in force regardless. The discussion follows Washington’s decision last Friday to temporarily authorise Russian diesel trade until April 7, 2027.