US sanctions 6 Indian companies for trade in Iran petroleum products

The Trump administration has sanctioned six Indian companies for their "significant" sales and purchases of Iranian-origin petrochemical products.

"The Iranian regime continues to fuel conflict in Middle East to fund its destabilising activities. Today, the US is taking action to stem the flow of revenue that the regime uses to support terrorism abroad, as well as to oppress its own people," the department of state said Wednesday, as it announced imposing sanctions on 20 global entities engaged in Iranian petroleum, petroleum products or petrochemical trade. The state department said multiple companies in India, the UAE, Turkiye and Indonesia are being designated for their significant sales and purchases of Iranian-origin petrochemical products. As President Donald Trump has said, "any country or person who chooses to purchase Iranian oil or petrochemicals exposes themselves to the risk of US sanctions and will not be allowed to conduct business with the United States", it said. Targeting Iran's petrochemical trade, the US designated 13 entities across multiple jurisdictions which have engaged in the transhipment, sale, and purchase of Iranian-origin petrochemicals.

While there was no official reaction to the US announcement by India, the Iranian embassy here in New Delhi said the US continues to weaponise the economy and use sanctions as tools to dictate its will on independent nations such as Iran and India, and impede their growth and development. "These coercive discriminatory actions violate the principles of international law and national sovereignty, representing a modern form of economic imperialism. Resisting such policies is a stand for a more powerful emerging non Western-led multilateral world order and a stronger Global South," it said.

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