The United States has imposed sanctions on four Indian companies—Austinship Management Pvt Ltd, BSM Marine LLP, Cosmos Lines Inc, and Flux Maritime LLP—for their alleged involvement in facilitating the transportation and trade of Iranian petroleum products.

This move is part of Washington's ongoing campaign to pressure Iran's oil trade, aiming to reduce its exports to zero. The sanctions were announced by the US Department of the Treasury's Office of Foreign Assets Control (OFAC) and are part of a broader effort targeting entities across multiple countries, including the UAE, China, and Hong Kong, that aid Iran's oil sales.

These Indian firms have been accused of playing a critical role in transporting, selling, and marketing Iranian oil, despite global sanctions. Specifically, Flux Maritime LLP is linked to ship-to-ship transfers facilitating Iranian oil shipments, while BSM Marine LLP and Austinship Management Pvt Ltd are associated with vessels involved in these transactions. Cosmos Lines Inc. has been targeted for directly facilitating the transport of Iranian petroleum products.

The sanctions highlight the US commitment to disrupting Iran's oil supply chain, which it believes funds destabilising activities.

The sanctions could complicate India's energy trade policies, as India balances its strategic ties with both the US and Iran. Prior to 2019, Iran was one of India's major oil suppliers, but India stopped importing Iranian oil due to US sanctions.

The current sanctions are part of the Trump administration's "maximum pressure campaign" against Iran, which aims to curb its oil exports and limit its economic resources. The move also underscores the challenge of enforcing sanctions, as countries like China continue to find ways to circumvent them and purchase Iranian oil.

Agencies