US Lifts Iran Sanctions on One Unit of Chinese Shipping Giant COSCO

US Lifts Iran Sanctions on One Unit of Chinese Shipping Giant COSCO
Chinese container ship "Cosco Shipping Aries" is unloaded at a loading terminal in the port of Hamburg Germany on July 27, 2018. Fabian Bimmer/Reuters
Reuters
Updated:

WASHINGTON—The United States on Jan. 31 lifted sanctions on one of two units of the Chinese tanker company COSCO, the U.S. Treasury said, partially reversing its punishment on the company for transporting Iranian oil after China complained about the measure in trade talks with Washington.

President Donald Trump’s administration on Sept. 25 blacklisted two units of COSCO, named after the northeastern Chinese port of Dalian.