Washington, February 25, 2025 –
Washington has imposed sanctions on 16 companies in connection to Iran’s petroleum and petrochemical industry, including four Indian firms, in its latest effort to curb Tehran’s oil trade. The US Treasury Department announced the decision on Monday, citing violations of restrictions under American law.
The Indian entities sanctioned are Austinship Management Private Limited, BSM Marine LLP, Cosmos Lines Inc., and Flux Maritime LLP. As stated by the Office of Foreign Assets Control (OFAC), these companies were part of the shipping of petroleum products from Iran and facilitated oil sales that were used to finance terrorism.
This is the second round of sanctions since US President Donald Trump issued a national security memorandum on February 4, calling for intensified pressure on Iran’s oil sector. Alongside these measures, the US has sanctioned 22 individuals and designated 13 vessels as restricted assets due to their connection with Tehran’s oil trade.
The US State Department has also identified eight entities operating in India, Iran, Malaysia, Seychelles, and the UAE for their alleged role in Iranian oil transactions. Additionally, eight vessels linked to these entities have been blocked under executive orders 13902 and 13846.
US Treasury Secretary Scott Bessent stated, “Iran continues to rely on a shadowy network of vessels, shippers, and brokers to facilitate its oil sales and fund its destabilizing activities. The United States will use all our available tools to target Iran’s oil supply chain. Those dealing in Iranian oil risk significant sanctions.”
This move is part of Washington’s ongoing effort to disrupt Iran’s crude exports, which the US claims help finance terrorism and destabilizing activities in the Middle East. The sanctions seek to tighten economic pressure on Tehran and reduce its oil exports to zero.
The latest sanctions also extend to individuals and entities in China, the UAE, and Hong Kong, further underscoring the US commitment to restricting Iran’s oil trade.
New Delhi hasn’t officially responded to the sanctions. However, the move could pose challenges for India’s energy policies as it navigates strategic relations with both Washington and Tehran. India has historically imported crude oil from Iran, and these sanctions may impact its procurement strategies and diplomatic ties in the region.
Keep Reading questiqaIndia for the latest news updates and Get more News Headlines on our Social Platforms Do Follow.
