October 24, 2019

Iran-related general license allows limited transactions with Chinese shipping company

On October 24, 2019, the US Department of the Treasury’s Office of Foreign Assets Control issued General License K, authorizing maintenance or wind down of transactions involving Cosco Shipping Tanker (Dalian) Co., Ltd.  The general license authorizes until December 20, 2019, transactions that would otherwise be prohibited by Executive Order 13846, and which are incident and necessary to maintenance and wind down activities involving Cosco and its subsidiaries.  G.L. K does not authorize other transactions with Cosco.

General License K