US lifts sanctions against Cosco-owned Dalian Tankers

US authorities have lifted the country's sanctions against Dalian Tankers, which is owned by major Chinese shipping group Cosco.

Photo: Edgar Su/Reuters/Ritzau Scanpix

The US has lifted its sanctions against Dalian Tankers, owned by major Chinese shipping group Cosco, according to a statement by the Office of Foreign Assets Control (OFAC), which files under the US Department of the Treasury.

In late September, the tanker shipping line was hit by US sanctions because the company, according to the US, had been sailing with illegal cargoes from Iran. But now the sanctions against the company and its top executive, Xu Yazhou, have been lifted.

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