Source : INDIA TODAY NEWS
The United States has imposed sanctions on two Mumbai-based firms and five Indian nationals linked to them over allegations of involvement in the trade of petroleum products from Iran. The move is part of Washington’s wider crackdown on Iran under Operation Economic Outcast.
In addition to the action against the Indian entities and individuals, the US said it was sanctioning several other entities, individuals and vessels connected to trade in Iranian-origin petroleum, petroleum products and petrochemical products. It also allowed a temporary wind-down period for one of the Indian firms.
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In Washington on Thursday, the US Department of State said it had targeted SSPL Solutions Private Limited and Samudra Marine Services Private Limited for facilitating the import of petroleum products from Iran. Two people associated with SSPL Solutions — Dhwani and Nisarg Vora — and three linked to Samudra Marine Services — Ketan Kochikar, Bhupendrasingh Sahu and Harishyam Hariharan Chundakattil — have also been blocked from carrying out transactions related to their respective firms.
“The Department of State is sanctioning ten entities, six individuals, and five vessels in connection with trade in Iranian-origin petroleum, petroleum products, and petrochemical products,” an official statement said. The State Department said these entities had channelled millions of dollars to the Iranian regime, strengthening one of its most important revenue streams and enabling its continued illicit conduct.
“The US government is imposing sanctions on both the buyers and sellers driving this trade in Iranian petrochemical products,” the department said. At the same time, the US authorised wind-down transactions by Samudra Marine Services till October 23, giving parties a temporary grace period to complete existing business and exit operations before the sanctions take full effect.
Separately, the Treasury Department also sanctioned 17 entities and their shadow fleet vessels to deprive the Iranian regime of funds. “Treasury is starving the tyrannical regime in Tehran of the money it uses to wage war in the region, and we will continue exposing those who enable the regime’s oil sales,” Treasury Secretary Scott Bessent said. “No enabler of Iranian sanctions evasion is safe from the full force of Treasury’s authorities,” he said.
Overall, the US action covered the two Mumbai-based firms, five Indian nationals linked to them, and a wider set of entities and vessels as part of its effort to curb trade tied to Iranian petroleum and petrochemical products.
With PTI Inputs
– Ends
SOURCE :- TIMES OF INDIA
