US Sanctions Hit Indian Firms in Iran Oil Crackdown

The US has sanctioned 16 firms, including four Indian companies, for their involvement in Iran's petroleum industry. This marks the second wave of sanctions under President Trump's maximum pressure campaign. These actions aim to disrupt Iran's oil revenue, used to fund terrorism.

In a significant move, the United States has sanctioned 16 firms, among which four are Indian companies, due to their alleged ties to Iran's petroleum and petrochemical industry.

A press release from the Treasury Department identifies the sanctioned Indian firms as Austinship Management Pvt Ltd, BSM Marine LLP, Cosmos Lines Inc, and Flux Maritime LLP. This development is part of the second sanction wave since President Donald Trump initiated a heightened national security strategy against Iran on February 4.

According to a statement from the State Department, the US is taking measures against entities and vessels involved in facilitating Iran's oil sales, a move intended to hinder Iran's ability to fund terrorist activities through illicit oil revenue.

(With inputs from agencies.)