Wright says US will let sanctioned tankers return to legal oil trade

Energy Secretary Chris Wright said Monday at a Citadel Securities event in New York that the Trump administration is allowing sanctioned oil tankers to undergo a process to resume legitimate crude shipping. Investors are proposing to buy idled vessels, refurbish them and use them to transport non-sanctioned oil, according to Wright.

The comments point to a potential change in how dark-fleet tankers are handled after sanctions have taken them out of ordinary maritime trade. The vessels would not necessarily return to sanctioned cargoes; the proposed use is transportation of oil that is not subject to sanctions.

The immediate parties are the tanker owners and investors considering purchases, refiners and traders that need compliant shipping capacity, and US officials overseeing the sanctions process. Refurbishment and approval would connect the policy to vessel availability and the cost of moving crude.

The timing, eligibility criteria and practical steps for removing sanctions were not detailed in the remarks. It is also unclear how many tankers could qualify or how quickly refurbished vessels could enter service.

Further clarity would come from formal US guidance, specific tanker approvals or announcements by investors and operators. The next relevant company-level datapoint for USO is its next reported results, although the policy's direct effect on the oil fund depends on broader crude-market conditions rather than tanker availability alone.