Sinopec, a Chinese oil trader, has re used COSCO's tankers to transport oil, trade sources said Tuesday. Previously, Washington issued a temporary sanctions exemption permit to allow related companies to close business with a Chinese tanker company.
Trump's government imposed sanctions on four Chinese shipping companies at the end of September, including Dalian COSCO Shipping tankers (Dalian), for violating the ban on the transportation of Iranian oil.
Shipping sources told Reuters in September that prompted unipec to look for alternative ships to transport oil from the Persian Gulf in the Middle East. Unipec is the trading arm of Sinopec, Asia's largest refiner.
A U.S. Treasury Circular allows "maintenance or termination" of transactions with COSCO Dalian, including the unloading of non Iranian crude oil, until December 20.
The US has consulted industry executives to allow general licensing and will approve new COSCO tanker leasing activities, a trade source said.
It is not clear whether this applies only to tankers operated by COSCO entities that are not blacklisted.
US officials could not be reached for comment at this time.
A Sinopec spokesman declined to comment.
Zhang Zheng, investor relations manager of COSCO energy transportation Co., Ltd., said in a comment that he was not aware of the latest developments for the time being. The company is the parent company of Dalian COSCO marine oil transportation Co., Ltd.
Chinese companies, including Sinopec, are resuming leasing of COSCO's tankers, the head of trading at a Chinese oil giant told Reuters.
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