New Delhi, Oct. 16 -- The US is considering easing restrictions on oil tankers linked to Russia and Iran as the Trump administration struggles to bring down soaring diesel prices ahead of November's midterm elections. The move could increase shipping capacity and reduce freight costs, but it risks weakening Western pressure on Moscow amid its war with Ukraine.

The proposals include allowing blacklisted vessels to be sold to legitimate operators and lifting sanctions to let them operate in global markets, people familiar with the matter told the Financial Times.

A US Treasury department official said the Office of Foreign Assets Control (OFAC) may authorise such transactions "on a case-by-case basis", provided legitimate buyers purchase ...