US Sanctions Four Indian Companies for Transporting Iranian Oil
The United States has imposed numerous sanctions on Iran over the past few years. As part of these measures, the Trump administration has now begun targeting companies involved in transporting oil exported from Iran, particularly crude oil and petroleum products. The US has compiled a list of such companies and imposed strict sanctions on them, including four Indian firms—one of which is based in Navi Mumbai. This report was published by The Indian Express.
Indian Companies Accused of Transporting Iranian Oil
The US has accused four Indian companies of facilitating the transportation of Iranian oil. These actions are part of the Trump administration’s “most stringent sanctions campaign” against Iran. The latest sanctions list includes a total of 30 companies and ships engaged in oil transportation, spanning multiple countries.
Sanctions Against a Navi Mumbai-Based Firm
Among the four Indian firms facing sanctions are:
- Flux Maritime LLP (Navi Mumbai)
- BSM Marine LLP (Delhi NCR)
- Austinship Management Pvt Ltd (Delhi NCR)
- Cosmos Lines Inc. (Thanjavur)
Three of these companies are alleged to be commercial or technical managers of vessels transporting Iranian oil, while Cosmos Lines Inc. has been specifically accused of transporting Iranian petroleum products.
US Justification for the Sanctions
In an official statement, the US Office of Foreign Assets Control (OFAC) said:
“The entities sanctioned today include oil brokers in the UAE and Hong Kong, tanker managers in India and China, and the head of Iran’s National Iranian Oil Company. Additionally, sanctions have been imposed on certain shipping companies that transport millions of barrels of Iranian oil.”
Not the First Time Indian Companies Have Faced US Sanctions
This is not the first instance of US sanctions targeting Indian firms. In October, the US imposed sanctions on Gabbaro Ship Services, an Indian company. Additionally, in August and September, three other Indian companies faced similar penalties.
