The United States imposed sanctions on four Indian firms on Monday for their alleged links to Iran's oil industry, reports Hindustan Times.
The sanctioned companies鈥擜ustinship Management Pvt Ltd, BSM Marine LLP, Cosmos Lines Inc, and Flux Maritime LLP鈥攁re among 16 firms sanctioned by the US for their involvement in Iran's petroleum and petrochemical sectors.
In a statement issued on Monday, the US Department of the Treasury鈥檚 Office of Foreign Assets Control (OFAC) and the US Department of State announced sanctions on over 30 individuals and vessels across multiple jurisdictions for facilitating the sale and transportation of Iranian petroleum-related products.
This move follows President Donald Trump鈥檚 national security memorandum issued on February 4, which called for a 鈥榤aximum pressure鈥� campaign against Iran.
According to the State Department, this is the second round of sanctions aimed at curbing Iranian oil sales.
The State Department noted that the sanctioned vessels are responsible for shipping tens of millions of barrels of crude oil, valued at hundreds of millions of dollars.
