Frequently Asked Questions

804. Do sanctions on COSCO Shipping Tanker (Dalian) Seaman & Ship Management Co. apply to its corporate parent and affiliates?

Answer

COSCO Shipping Tanker (Dalian) Seaman & Ship Management Co. was determined by the Secretary of State on September 25, 2019, to meet the criteria for the imposition of sanctions under Executive Order (E.O.) 13846, and the Secretary of State imposed certain sanctions, including blocking, on this entity. The blocking sanctions apply only to this listed entity and any entities in which it owns, directly or indirectly, a 50 percent or greater interest. Sanctions do not apply to this entity’s ultimate parent, COSCO Shipping Corporation Ltd. (COSCO). Similarly, sanctions do not apply to COSCO’s other subsidiaries or affiliates (e.g., COSCO Shipping Holdings), provided that such entities are not owned 50 percent or more in the aggregate by one or more blocked persons. U.S. persons, therefore, are not prohibited from dealing with COSCO, its non-blocked subsidiaries, or non-blocked affiliates to the extent the proposed dealings do not involve any blocked person, or any other activities prohibited pursuant to any OFAC sanctions authorities.

With respect to transactions involving non U.S. persons outside of U.S. jurisdiction, please see FAQ 805.

Date Released
January 31, 2020