The United States has sanctioned four India-based companies for their alleged involvement in the trade and transportation of Iranian crude oil and petroleum products. The four companies are amongst 30 other persons and vessels of various countries over which the sanctions are imposed by the US Department of Treasury Office of Foreign Assets Control (OFAC), a US Department of State. This move is part of the Trump administration’s maximum pressure campaign on Iran.
Four Indian Companies
Navi Mumbai-based Flux Maritime LLP, Delhi NCR-based BSM Marine LLP, Austinship Management Private Limited and Thanjavur-based Cosmos Lines Inc. are the four companies over which these sanctions have been imposed for being commercial or technical managers of vessels allegedly involved in the transportation of Iranian oil and petroleum products.
This is not the first time Indian companies have been placed under sanctions for their involvement in the so-called shadow fleet of tankers for transportation and trade. For instance, in October, India-based Gabbaro Ship Services was sanctioned for alleged involvement in the transportation of Iranian oil. Again in August and September, three Indian registered shipping firms were sanctioned by the US over their alleged involvement in transporting liquid, natural gas (LNG) from Russia’s ArcticLNG2 project. The project is under American sanction.
