The US Treasury announced sanctions against six Chinese companies, including subsidiaries of state-owned shipping giant COSCO SHIPPING Lines, as well as their employees for allegedly violating US sanctions by transporting Iranian oil.
The Bulgarian exclusive representative of the Chinese container giant COSCO SHIPPING Lines is the company Three Stars Limited with ID number 103612103 , for which we – IUSTITIA.BG have a signal with data that it also violates the anti-monopoly legislation and benefits from a dominant position on the market in Bulgaria.
We have data that a Bulgarian company was blacklisted by the Bulgarian exclusive representative of the Chinese container giant „COSCO SHIPPING Lines“ – the Bulgarian company THREE STARS LTD to pay uncollectible debts of another company to COSCO SHIPPING LINES and THREE STARS LTD .
Our investigation into the company THREE STARS LTD and the Chinese container giant „COSCO SHIPPING Lines“ will be published these days on iustitia.bg.
On this occasion, a Bulgarian exporter was placed on an illegal „black list“ and was threatened that he „will not be able to export anything more by containers“ from Bulgaria if he does not pay the obligation to a foreign company, which is qualified by the company TRI STARS LTD as „related „.
The threat has been made personally by the manager of the company THREE STARS LTD – Vladimir Demirov at a meeting in Varna this spring.
The report has been submitted to the Commission for the Protection of Competition and the Prosecutor’s Office of the Republic of Bulgaria, and we will follow up on its results.
THREE STARS LTD represents COSCO SHIPPING LINES CO. GREECE since the beginning of 2013. The team adhered to the global vision of COSCO SHIPPING Lines, but not to the requirements of the Bulgarian legislation.
Bulgaria is the only country that does not protect the Bulgarian companies when they are put in a position to be blacklisted by market monopolists.
The sanctions against „COSCO SHIPPING Lines„
are the latest move by the US government to intensify its „maximum pressure campaign“ against Iran and are aimed at the subsidiaries of the Chinese container giant COSCO – Cosco Cosco Shipping Tanker Dalian (COSCO shipping tanker Dalian) and Cosco Shipping Tanker Dalian Seaman and Ship Management (COSCO Shipping Tanker Dalian Seaman and Ship Management), as well as the companies Kunlun Kunlun Holding, Kunlun Shipping and Pegasus 88. Oil trader China Concord Petroleum is also on Washington’s list.
The Treasury Department said the sanctions also apply to parent company Cosco Shipping Corporation and other subsidiaries of the group.
Cosco Shipping Tanker Dalian is a division of Cosco Shipping Energy Transportation (CSET), which operates over 120 tankers. The CSET today imposed a trading halt on both the Hong Kong and Shanghai stock exchanges. Kunlun, meanwhile, has been one of the biggest shippers of Iranian crude oil to China over the past 18 months.
In April, China, one of the biggest importers of Iranian oil, criticized the US government’s decision to revoke exemptions granted last year to buyers of Iranian oil, which include China, India, Japan, South Korea and Turkey.
„China strongly opposes the unilateral sanctions imposed by the US. The Chinese government is committed to protecting the legitimate rights and interests of Chinese enterprises,“ Chinese Foreign Ministry spokesman Geng Shuang said.
China’s foreign ministry has yet to comment on the latest sanctions. An official from the Chinese container giant COSCO declined to comment on the matter.
Beijing is strengthening its strategic ties with Tehran, defying US efforts to isolate the Islamic Republic from global markets. The two countries recently agreed to update a 25-year program signed in 2016 to include an unprecedented $400 billion in investment in Iran.
The sanctions against Iran are related to Iran’s nuclear program, which includes several research sites, two uranium mines, a research reactor, and uranium processing facilities that own three known uranium enrichment sites.
In 1970, Iran ratified the Nuclear Non-Proliferation Treaty (NPT)., making its nuclear program subject to confirmation by the International Atomic Energy Agency (IAEA).
Iran’s first nuclear power plant , Bushehr, was completed with major assistance from the Russian government agency Rosatom and officially opened on September 12, 2011. Russian engineering contractor Atomenergoprom says the Bushehr NPP will reach full capacity by the end of 2012. Iran also announces that it is working on a new 360 MW nuclear plant, planned to be in Darkoane , and that it will pursue medium-sized nuclear power plants and uranium mines in the future.
As of 2015, Iran’s nuclear program cost $ 100 billion in lost oil revenue and foreign direct investment due to international sanctions ($500 billion, including other costs).
This year, the Chinese state-owned company Cosco (COSCO) will be allowed to acquire only 24.99 percent of the shares of the Hamburg container terminal „Torreort“ after months of disputes in Germany’s coalition government, DPA reported, quoted by BTA.
The decision was announced by German government spokesman Steffen Hebestreit in Berlin on Wednesday.
Initially, COSCO SHIPPING Lines wanted to buy 35 percent of the Torerort container terminal operator. However, a fierce political dispute has erupted over whether Chinese participation should be allowed at all.
And rightly so in view of what the Bulgarian exclusive representative of the Chinese container giant COSCO SHIPPING Lines has allowed itself is the company THREE STARS LTD in Bulgaria.
The editors of „IUSTITIA.BG“ apologize for any possible inaccuracies. Affected persons have a right of reply.
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