The US State Department has imposed sanctions on the Indian-based persons or entities for importing and/or assisting in the importation of Iran petroleum and petrochemical products.
The move is in response to Washington’s stepped-up economic pressure campaign against Tehran. The U.S. Treasury Secretary announced Aug. 26 a new round of sanctions in “Operation Economic Outcast” against Iran’s economic lifelines with a warning for those that maintain commercial ties with Tehran of possible sanctions.
The US said the latest moves are part of a comprehensive effort to curb Iran’s sources of foreign funds and financial networks. Washington has made increasing use of secondary sanctions to deter companies and organisations in third countries from doing business that is in any way linked to the energy sector in Iran.
The latest list of the India-based entities involved includes customs broker Portease Partners LLP and two names, Indrismiya Ashrafmiya Sheikh and Harish Ramachandra Rangi. The U.S. claims the parties were acting in the interest of facilitating transactions related to Iranian petroleum and petrochemical products.
The restrictions could further complicate India-U.S. ties, especially since India has long commercial ties with Iran, which has been under sanctions. Along with the latest sanctions, Washington has made multiple efforts to impose pressure on companies outside Iran, to adhere to its limits to Iran’s oil and petrochemical imports.