Göteborg: 10 October 2019

How far reaching are the recent Iran sanctions against COSCO (Dalian) and others?

Latest questions on US sanctions following shipping of Iranian oil and petroleum products contrary to U.S. sanctions.

On 25 September, the U.S. Office of Foreign Assets Control (OFAC) designated COSCO Shipping Tanker (Dalian) Co. Ltd. (COSCO Dalian), Kunlun Shipping Company Ltd., and certain other entities and individuals as Specially Designated Nationals (SDNs) under Executive Order 13846 for transporting Iranian oil and petroleum products contrary to U.S. sanctions. To this end, OFAC has confirmed as follows:

As to the scope of the sanctions, the Club’s understanding is as follows:

 As a result of the above, non-U.S persons would appear to remain free to have continued business dealings with the entities that became designated on 25 Septembers on the following conditions:

 

OFAC: ‚ÄčIran-related Designations; Issuance of Iran-related Frequently Asked Question (25 Sept 2019)

 


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