Donald Trump took anti-India decision, four Indian companies came on the streets overnight: America's new President Donald Trump has surprised everyone by taking a big decision. Now the US has imposed sanctions on 16 companies working with Iran's petroleum and petrochemical industry, out of which four are Indian companies. According to a statement issued by the US Finance Department, the banned Indian companies include Austinship Management Private Limited, BSM Marine LLP, Cosmos Lines Inc and Flux Maritime LLP. However, no statement has come from India regarding the ban yet. India has good relations with both Iran and the US.
What did the US say on the ban?
The statement said that the US State Department has identified 16 companies associated with Iran's petroleum and petrochemical industry and sanctions are being imposed against them. In collaboration with the Office of Foreign Assets Control (OFAC), sanctions have been imposed on 22 individuals and 13 of their ships in various sectors have been marked as restricted assets due to their links with Iran's oil industry.
First action on Iranian regime
The statement said, “This illicit shipping network conceals and deceives its role in loading Iranian oil for sale to buyers in Asia. It has shipped tens of millions of barrels of crude oil worth hundreds of millions of dollars. Today's action is the first action to realize President Trump's campaign of greater pressure on the Iranian regime. It will stop Iran's efforts to collect oil revenues to finance terrorist activities.