Major Action by Trump: 4 Indian Companies Blacklisted by US – Know the Reason

Washington (The Uttam Hindu): To weaken Iran, America has imposed sanctions on 16 companies related to its petroleum and petrochemical industries. This list also includes 4 Indian companies. This step is part of the US administration's campaign to further tighten sanctions on Iran.

US President Trump's big action, ban on 4 Indian companies, know what is the matter: The Indian companies which have been banned include Austin Ship Management Private Limited, BSM Marine LLP, Cosmos Lines Inc and Flux Maritime LLP. Let us tell you that till now there has been no response from India on this ban.

The US State Department said these companies are being sanctioned for business ties with Iran's petroleum and petrochemical industries. The statement said the US will disrupt this illegal shipping network, which works to sell Iranian oil to buyers in Asia.

The statement also said that the network was trying to sell several barrels of crude oil worth hundreds of millions of dollars through illegal shipping. This move is part of the policy of putting pressure on Iran started during President Trump's tenure, in view of efforts to economically weaken Iran's terrorism through oil revenue.