Cosco Energy Shipping In Fresh Iranian Oil Controversy


… The company was sanctioned in September this year after the US Treasury’s Office of Foreign Assets Control (Ofac) said it was part of a network of companies involved in the sale of “hundreds of millions of dollars worth of Iranian petrochemicals and petroleum products to end users in South and East Asia”. Ofac put Cosco Dalian, a CSET subsidiary, on its sanctions list in 2019 for allegedly transporting Iranian oil. It lifted the sanctions on the company four months later. CSET and Clara Shipping have both been approached for comment. The Afra Crown featured on a list of 257 ships suspected to have been involved in transporting Iranian crude by tanker trackers from United Against Nuclear Iran (UANI). UANI identified the tanker in June as one that had made the switch from shipping Iranian to Russian oil, attracted by high rates and a shortage of tonnage.