Indian entities among dozens sanctioned by US over Iran oil trade

Seventeen Indian entities and nationals were among approximately 100 individuals, companies and vessels from several nations sanctioned by the US on Thursday in a sweeping crackdown on networks that have enabled billions of dollars worth of Iranian energy exports.

- Shashank Mattoo

The coordinated action by the Treasury and State departments marks one of the most significant targeting of those facilitating Iran’s sanctioned petroleum sector, including companies and ships out of the United Arab Emirates, Hong Kong and China.

Washington accused nine India-based companies of importing $423 million worth of Iranian petrochemicals and penalised eight Indian nationals —all directors, shareholders or owners of sanctioned firms — for their roles in the trade. Three of the nationals operated vessels that transported over five million barrels of Iranian oil and gas products.