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US Sanctions COSCO Companies over Iran Trade

September 26, 2019

COSCO Shipping Tanker (Dalian) Co. and COSCO Shipping Tanker (Dalian) Seaman & Ship Management Co. were determined by the Secretary of State to meet the criteria for the imposition of sanctions.

It was further stated that the sanctions applied only to these listed entities and did not apply to these entities’ ultimate parent, COSCO Shipping Corporation Ltd. (COSCO).

Similarly, sanctions do not apply to COSCO’s other subsidiaries or affiliates (e.g., COSCO Shipping Holdings), provided that such entities are not owned 50 percent or more in the aggregate by one or more blocked persons.

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