December 19, 2019 / 9:50 PM / a month ago

Trump administration renews waiver on COSCO unit hit by Iran sanctions

WASHINGTON, Dec 19 (Reuters) - The Trump administration on Thursday said it renewed a waiver for companies to wind down transactions with the Dalian unit of a Chinese tanker company it had slapped sanctions on in September for allegedly transporting Iranian oil.

The waiver, good until Feb. 4, 2020, allows activities and transactions “ordinarily incident and necessary to the maintenance or wind down of transactions” including offloading of non-Iranian crude oil involving COSCO’s Dalian Shipping Tanker Unit, the U.S. Treasury Department said in a release. (Reporting by Timothy Gardner and Tim Ahmann; Editing by Sandra Maler)

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