US Sanctions Two Mumbai Firms Over Iran Oil Trade
The United States has sanctioned two Mumbai-based companies over the Iran oil trade. SSPL Solutions Private Limited and Samudra Marine Services Private Limited are named. Five Indian nationals are also sanctioned.
The action is part of ‘Operation Economic Outcast’ against Iran. The US alleges their involvement in trading petroleum products from Iran.
The sanctions were announced on October 9. They freeze US assets of the named firms and persons. US citizens cannot do business with them.
The move is part of wider US pressure on Iran. On Thursday, Washington sanctioned 17 vessels and networks moving Iranian crude, oil products and petrochemicals.
The US-Iran war has disrupted oil markets for eight months. The sanctions aim to cut Tehran’s oil revenue.
India has not yet commented on the action against the Mumbai firms.
The sanctions are part of a wider US campaign against Iranian oil exports. Washington wants to cut Tehran’s main revenue source. Indian firms trading with Iran face growing scrutiny. Compliance experts advise firms to check their supply chains.
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