US gives 2 months to break contracts with COSCO

The U.S. Treasury Department provided COSCO companies with time until December 20 to terminate their contracts.

Since September, COSCO Shipping Tanker has been on the US sanctions list for alleged violation of the ban on the transportation of Iranian oil.

The US Treasury said the temporary suspension of sanctions does not apply to the COSCO Shipping Tanker (Dalian) Seaman and Ship Management Co., Ltd, which is also banned.

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