Mumbai-based firms, five Indians face US sanctions over Iran oil trade
Washington: The US has imposed sanctions on two Mumbai-based firms and five Indian nationals associated with them over allegations of being involved in the trade of petroleum products from Iran.
The US Department of State action targeted SSPL Solutions Private Limited and Samudra Marine Services Private Limited for facilitating the import of petroleum products from Iran.
Two people associated with SSPL Solutions – Dhwani and Nisarg Vora, and three people related to Samudra Marine Services – Ketan Kochikar, Bhupendrasingh Sahu and Harishyam Hariharan Chundakattil — have also been blocked from performing any transactions related to their respective firms.
The action against the Indian entities and individuals is part of the US crackdown against Iran under Operation Economic Outcast.
“The Department of State is sanctioning 10 entities, six individuals, and five vessels in connection with trade in Iranian-origin petroleum, petroleum products, and petrochemical products,” an official statement said.
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The State Department said these entities channelled millions of dollars to the Iranian regime, bolstering one of its most critical revenue streams and enabling its continued illicit conduct.
“The US government is imposing sanctions on both the buyers and sellers driving this trade in Iranian petrochemical products,” the department said.
