The US has given India another bad news

As part of its maximum economic pressure on Iran, the US has imposed sanctions on eight Indian citizens and nine companies.

The latest US announcement, announced on Thursday, said that these individuals and entities are involved in the trade of Iranian oil, petroleum products and petrochemicals.

At the same time, the 'Office of Foreign Assets Control (OFAC)' under the US Treasury Department has blacklisted 60 more individuals, entities and vessels for allegedly facilitating the transportation of oil and liquefied petroleum gas (LPG) from Iran to foreign buyers. The list also includes entities from several other countries, including China and the United Arab Emirates.

The report said that eight of the entities on the US State Department's sanctions list are Indian chemical and petrochemical trading companies. These include Mumbai-based firms CJ Shah & Co., Chemovic, Modi Chem, Parichem Resources, Indisl Marketing, Haresh Petrochem and Shiv Techchem and Delhi-based BK Sales Corporation.

According to the US State Department, these companies have imported millions of dollars worth of Iranian-made petrochemicals over the past few years.

The five Indian nationals on the State Department's list are Chemovic director Piyush Maganlal Javia, Indisl Marketing director Niti Unmesh Bhatt and Haresh Petrochem directors Kamala Kasat, Kunal Kasat and Poonam Kasat.

The OFAC list also includes three more Indians - Varun Pula, Ayyappan Raja and Sonia Shrestha. They are accused of being involved in ships transporting Iranian LPG.

Sources: Indian Express and Hindustan Times