KEY POINTS
- The United States imposed sanctions on four Indian companies and 12 other foreign entities for involvement in Iran’s petroleum and petrochemical trade.
- Sanctions are part of Washington’s effort to curb Tehran’s oil revenues, which are allegedly used to finance destabilizing activities.
- Targeted Indian companies: Austionship Management, BSM Marine, Cosmos Lines, and Flux Maritime.
- Other sanctioned countries include China, UAE, Malaysia, Seychelles, Liberia, and Panama.
- 22 individuals and 13 vessels were also blocked under the sanctions.
- The sanctions are an initial step in enforcing President Trump’s maximum pressure campaign on Iran.
- India and Iran have been long-time energy partners, with India halting Iranian oil imports in 2019 due to US sanctions.
The US has sanctioned four Indian companies and 12 foreign entities for their role in facilitating the transport of Iranian crude oil, aiming to reduce Iran’s oil revenues that fund destabilizing activities. The sanctions, part of the Trump administration’s maximum pressure campaign, target companies across several countries, including India, China, and the UAE. The move blocks 22 individuals and 13 vessels. Despite past sanctions, India and Iran maintain strong energy ties, with Iran signaling plans to resume oil exports.