January 31, 2020 / 4:04 PM / 2 months ago

U.S. to lift sanctions on a Dalian unit of Chinese shipper COSCO: U.S. official

WASHINGTON (Reuters) - The United States on Friday will lift sanctions on at least one Dalian unit of Chinese tanker company COSCO that Washington accused of transporting Iranian oil, a U.S. official with knowledge of the matter said.

The administration of U.S. President Donald Trump blacklisted the Dalian units of COSCO on Sept. 25 in a move that pushed global freight costs to record highs and disrupted shipping markets.

Reporting by Humeyra Pamuk; Editing by Chizu Nomiyama

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