Major oil traders, including Transform and Vitol, are in talks with the U.S. government to obtain licenses to operate about 50 tankers with sanctions, Bloomberg reports. The initiative is aimed at combating a shortage of ships and lowering oil prices, which remain close to $100 a barrel amid record increases in freight rates due to the conflict in the Middle East. According to the agency, the US Department of the Treasury examines applications on an individual basis, but the final decision and timing for granting approvals have not yet been determined.