US Sanctions Four Indian Companies Over Iran Trade: Washington Steps Up Maritime Compliance Pressures

The US has upped its sanctions enforcement game against Iran by targeting intermediaries and companies supporting the petroleum and petrochemical trade of Iran. The latest designation by Washington indicates that the sanctions enforcement has moved beyond oil buyers and sellers to cover logistics companies, custom brokers and other participants in the supply chain of Iranian-originated goods. The latest announcement by the US Department of State is particularly important for India because Indian firms have lately been coming under the scanner for involvement in Iran’s petroleum trade. As per the US statement, the newly designated entities engaged in facilitating transactions related [...]