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US NEWS: The US has imposed sanctions on 16 companies related to Iran’s petroleum and petrochemical industries to weaken it. Four Indian companies are also included in this list. This move is part of the US administration’s campaign to further tighten sanctions on Iran.
In a statement issued by the US Finance Department, the Indian companies that have been banned include Austinship Management Private Limited, BSM Marine LLP, Cosmos Lines Inc and Flux Maritime LLP. Let us tell you that there has been no response from India on this ban so far, while India has good relations with both Iran and America.
Statement of America
The US State Department said that these companies are being banned for business relations related to Iran’s petroleum and petrochemical industries. The statement said that the US would disrupt this illegal shipping network, which works to sell Iranian oil to buyers in Asia.
Illegal shipping network and sanctions
The statement also said that this network was trying to sell several barrels of crude oil worth hundreds of millions of dollars through illegal shipping. This step is part of the policy of putting pressure on Iran started during President Trump’s tenure, which has been taken in view of Iran’s efforts to economically weaken terrorism through oil revenue.
Indian companies affected
These new sanctions imposed by the US on Iran have also affected Indian companies. This step is part of America’s policy of increasing pressure on Iran, which aims to curb Iran’s economic activities and stop its terrorism financing.
