News 25 Oct, 2019

Wind-down period announced for transactions with COSCO Shipping Tanker (Dalian) Co. Ltd

Following the designation of COSCO Shipping Tanker (Dalian) Co. Ltd. and COSCO Shipping Tanker (Dalian) Seaman and Ship Management Co. Ltd on 25 September 2019, OFAC have now issued General Licence K which entitles U.S. persons to wind-down their activities with COSCO Shipping Tanker (Dalian) Co. Ltd. and any subsidiary in which they own 50% or more. 

More information can be found in a Client Alert issued by the Club’s U.S. attorneys Freehill Hogan & Mahar.