Us sanctions on Indian company: The US has imposed ban on 16 companies related to its petroleum and petrochemical industries to weaken Iran. Four Indian companies are also included in this list. The move is part of the US administration’s campaign to further tighten sanctions on Iran.
Indian companies which have been banned in a statement issued by the US Finance Department include Austinship Management Private Limited, BSM Marine LLP, Cosmos Lines Inc. and Flux Maritime LLP. Let us know that there is no response from India to this ban so far, while India has good relations with both Iran and America.
America’s statement
The US State Department said that these companies are being banned for business relations related to petroleum and petrochemical industries in Iran. 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 Ban
The statement also stated that this network was trying to sell several barrels of hundreds of million dollars of crude oil through illegal shipping. The step is part of the policy of pressurizing Iran, which started with President Trump’s tenure, which has been taken in view of efforts to financially weaken Iran’s terrorism through oil revenue.
Indian companies affected
These new sanctions imposed on Iran by the US have also affected Indian companies. This step is part of the US’s growing pressure policy on Iran, which aims to tighten up on Iran’s economic activities and prevent its terrorism financing.
https://www.abplive.com/news/world/donald-trump-bans-four-indian-companies-know-why-2891697
