The US is taking decisions to completely stop funding to the Iranian government. The US has banned Iran from trading oil with any country. In such a situation, the US has imposed sanctions on two Mumbai companies and five Indian nationals associated with them due to their alleged involvement in the trade of petroleum products with Iran.
The US State Department has brought the action against SSPL Solutions Pvt Ltd and Samudra Marine Services Pvt Ltd for helping them procure petroleum products from Iran.
Who was prosecuted?
The action has been taken against two officers of SSPL Solutions named Dhwani and Nisarg Vora and three officers of Samudra Marine Service Ketan Kochikar, Bhupendrasinh Sahu and Harishyam Hariharan Chundakattil. Under financial rules, these five persons have been completely barred from having any kind of financial transactions related to their respective companies. The action against Indian companies and individuals is part of the US crackdown against Iran under ‘Operation Economic Outcast’.
“The State Department is imposing sanctions on ten companies, six individuals and five vessels in connection with the trade in petroleum, petroleum products and petrochemical products produced in Iran,” an official statement said.
The State Department said these companies funneled millions of dollars to the Iranian government, bolstering one of its most important sources of revenue and perpetuating its illicit activities. “The US government is imposing sanctions on both buyers and sellers of Iranian petrochemical products that facilitate this trade,” the department said.
17 clandestine ships have also been banned
The US did not immediately ban an Indian company called ‘Samudra Marine Services’. It has given the company till October 23 to complete its work by legally settling its old outstanding deals, outstanding money and paper work. The US Treasury Department has banned not only these companies, but also 17 other companies that aid Iran and 17 of their ‘secret vessels’. These were the pirate ships that were secretly transporting Iranian oil by sea to other countries, so that Iran could get money.
