Friday, 25 October 2019 11:55

US issues waiver to complete business with COSCO

592 US Waiver

 

The US Treasury Department has issued a nearly two-month waiver for companies to wind down transactions with COSCO Tankers, after they were sanctioned last month for allegedly transporting Iranian oil. The waiver expires on Dec. 20 and allows “maintenance or wind down of transactions” including offloading non-Iranian crude oil involving COSCO Shipping Tanker Co. Ltd. The waiver applies to COSCO Shipping Tanker or any entity owned 50% or more by the company.

 

 

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