WASHINGTON (Pakistan Point News / Sputnik - 31st January, 2020) The US government removed sanctions on a Chinese shipping tanker that had allegedly violated Iran-related sanctions, the Treasury Department announced on Friday.
The US sanctioned the Cosco Dalian on September 25, 2019 for transporting Iranian oil and petroleum products, Treasury said in a statement.
A month later the United States gave the shipping company a reprieve, setting a December 20 deadline to halt transactions involving Iran before the reimposition of sanctions.
Earlier, media reported that US sanctions had created a global shortage of oil tankers, causing tanker leasing rates to soar.
