Highlight
India’s petrochemical company ‘Tibalaji Petrochem Pvt Ltd’ has been banned.
The US has banned two Chinese companies.
Oil companies based in Hong Kong, Iran and the United Arab Emirates have also been banned.
Washington. The US has imposed sanctions on several companies based in China, Hong Kong, India and the United Arab Emirates to facilitate the movement of Iranian petroleum and petrochemical products and their financial transactions. US Secretary of State Antony Blinken said the US was taking action to counter Iran’s efforts to evade sanctions on the sale of petroleum and petrochemical products. He said the Ministry of External Affairs is specifically banning two companies based in China – Zhonggu Storage and Transportation Co Ltd and WS Shipping Co Ltd. Blinken said in a statement that the Treasury Department is also imposing sanctions on eight other companies based in Hong Kong, Iran, India and the United Arab Emirates for trading petrochemicals with Iran.
According to the statement, India’s petrochemical company ‘Tibalaji Petrochem Private Limited’ has been banned. In fact, Iran’s oil economy is being badly affected due to US sanctions and the country’s economy is also suffering. Several such reports have emerged in recent days, claiming that Iran is developing new technology in the nuclear field, raising fears of an alleged nuclear war. It also emerged that Iran could soon sign a nuclear deal that would lift US sanctions on it.
However, the US has once again taken a tough stand and imposed sanctions on companies that trade oil with Iran. The US Treasury Department has specifically banned a network of companies involved in the sale of multimillion-dollar Iranian petrochemical and petroleum products to South and East Asia.
Read breaking news first in Hindi News18 Hindi| Read today’s latest news, live news updates, most trusted Hindi news website News18 Hindi|
tags: america, Iran
First Published: September 30, 2022, 02:20 IST
