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The US is taking action on a network under Trump’s ‘Maximum Pressure’ policy through which Iran sells its oil in the world.
The US government banned 4 companies in India due to the sale of Iranian petroleum products and mediation in transport. According to the report of the Indian Express, the US Finance Department released a press release on Monday and informed about this.
The US says that Iran’s oil exports are carried out through an illegal shipping network. Under Donald Trump’s ‘Maximum Pressure’ policy, the US is taking action on a network that can prevent Iran’s earnings.
US Finance Department said-
Today, those who have been banned, include Oil Broker of UAE and Hong Kong, tanker operator and manager of India and China, head and Iranian oil terminals company of Iran’s National Iranian Oil Company. These have provided financial help in Iran’s destroying activities.
Donald Trump recently implemented the ‘maximum pressure’ campaign against Iran by signing on executive order. Under this, strict economic sanctions imposed on Iran. Especially ordered to target his oil exports.
2 Delhi-NCR, 1 Mumbai and 1 Tanjavur company
According to the Foreign Asset Control and Department of State of America, the names of these 4 Indian companies- Flux Maritime LLP (Navi Mumbai), BSM Marine LLP (Delhi-NCR), Austinship Management Private Limited (Delhi-NCR) and Cosmos Lines Inc. ) Are.
3 of these four companies were banned due to commercial and technical management of ships involved in transport of Iranian oil and petroleum products. While Cosmos Lines were banned due to Iranian petroleum involvement in transport.
Iran has the fourth largest oil reserves in the world. The country’s economy depends a lot on oil.
The danger of confiscation of property from the ban The company or country that is banned, economic relations with the restriction of the restriction of it are limited or completely eliminated. The ban includes activity such as preventing imports, freezing properties, banning the banking system of an organization of a country or countries.
According to the Foreign Relations Council, the scope of the ban can be quite wide. In this, any kind of commercial activity can be banned with the banned country. Apart from this, a special person or company can also be banned and banned.
For example, the US has banned many countries including Iran, North Korea, China. Russia has the highest restrictions in the world after the Ukraine war broke out.
If an international organization like the United Nations (UN) banns, then it has no way to implement it. It is left to countries to implement UN sanctions.
If a country bans imports from another country, then its industries who need imports also suffer heavy losses.
Last year too, Indian companies were banned Even before this, Indian companies have faced American ban. In October last year, India’s Gabbaro Ship Services was banned due to joining Iranian oil exports. In this way, action was taken on India’s 3 shipping companies due to being involved in the Russian project.
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