{"id":4968,"date":"2020-02-23T02:19:40","date_gmt":"2020-02-22T23:19:40","guid":{"rendered":"https:\/\/www.al-sindbad.net\/us-lifts-sanctions-on-cosco-tanker-unit\/4968\/"},"modified":"2020-02-23T02:19:40","modified_gmt":"2020-02-22T23:19:40","slug":"us-lifts-sanctions-on-cosco-tanker-unit","status":"publish","type":"post","link":"https:\/\/www.al-sindbad.net\/us-lifts-sanctions-on-cosco-tanker-unit\/4968\/","title":{"rendered":"US lifts sanctions on Cosco tanker unit"},"content":{"rendered":"<p><\/p>\n<p>The US government has lifted sanctions against a tanker unit of Cosco, China\u2019s state-run shipping conglomerate, partially reversing its punishment on the company for transporting Iranian oil.<\/p>\n<p><\/p>\n<p>The decision comes after China and US <a href=\"https:\/\/splash247.com\/us-and-china-trade-deal-unlikely-to-have-immediate-impact-on-shipping\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"text-decoration: underline; color: #000080;\">reached a phase one agreement<\/span><\/a> of a broader trade pact in January.<\/p>\n<p><\/p>\n<p>According to the Treasury Department of the US, it has removed sanctions against Cosco Shipping Tanker (Dalian), while it continues to blacklist another Cosco unit Cosco Shipping Tanker (Dalian) Seaman &amp; Ship Management.<\/p>\n<p><\/p>\n<p>The US <a href=\"https:\/\/splash247.com\/us-blacklists-cosco-subsidiaries-for-allegedly-violating-iran-sanction\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"text-decoration: underline; color: #000080;\">imposed sanctions on six Chinese companies<\/span><\/a> including subsidiaries of Cosco and Kunlun, as well as oil trader Concord Petroleum, in September. The sanctions caused a stir in VLCC spot market with a large number of Cosco tankers banned from trading.The Treasury Department had twice issued waivers to allow companies to wind down dealings with the Cosco units.<\/p>\n<p><\/p>\n<p>The lifting of sanctions will bring back about 2-3% of the global crude tanker fleet to rejoin global trading.<\/p>\n<p><\/p>\n<p>China is the world\u2019s only major importer of Iranian oil. Chinese customs data shows that China imported 14.77m tonnes of Iranian oil in 2019.<\/p>\n<p><\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>splash247<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US government has lifted sanctions against a tanker unit of Cosco, China\u2019s state-run shipping conglomerate, partially reversing its punishment on the company for transporting Iranian oil. The decision comes after China and US reached a phase one agreement of a broader trade pact in January. According to the Treasury Department of the US, it &hellip;<\/p>\n","protected":false},"author":1,"featured_media":4969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[58],"tags":[109,1613,1082,897,1188],"class_list":["post-4968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tanker-news","tag-cosco","tag-lifts","tag-sanctions","tag-tanker","tag-unit"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/4968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=4968"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/4968\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/4969"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=4968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=4968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=4968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}