Companies seeking to use the sanctioned ships would have to apply to the US Treasury Department for permission, Reuters reported, citing informed sources.
The measure under discussion would permit the transport of "legal" fuel rather than Russian or Iranian oil, which remains subject to restrictions. The stated aim is to reduce freight rates and ship more crude and refined products out of the Persian Gulf.
Easing the restrictions "could free up a small number of additional tankers for shuttle runs" in the Strait of Hormuz, sources in the shipping industry told Reuters, but is unlikely to bring about a broad fall in freight rates, since insurers are still bound by EU and UK rules.
The US Energy Department told the agency that any steps to loosen sanctions on the shadow fleet would not help Russia transport oil or petroleum products.
According to Reuters, high fuel prices pose a risk for Donald Trump in the midterm elections on November 3, in which Republicans hope to retain control of both chambers of Congress. The US president earlier lifted sanctions on Russian diesel fuel and allowed its supply to the American market until April 7, a move that drew criticism from some Republicans in the Senate, European leaders and Ukrainian President Volodymyr Zelensky.
Earlier this spring, amid the war in Iran and the closure of the Strait of Hormuz, the United States exempted some supplies of Russian oil and petroleum products from sanctions. The Kremlin said at the time that stabilizing the global market was "impossible" without "significant volumes" of Russian oil. Vladimir Putin asserted that attempts to damage the Russian oil fleet would lead to broader problems, above all for those who tried to harm Russia.