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America imposed a ban on this Indian oil company, do you know why?



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The Indian petrochemical company “Tibalaji Petrochem Private Limited” was banned.
Two Chinese companies have been banned by the United States.
Oil companies based in Hong Kong, Iran and the United Arab Emirates have also been banned.

Washington. The United States imposed sanctions on several companies based in China, Hong Kong, India and the United Arab Emirates for facilitating the transport and financial transactions of Iranian petroleum and petrochemical products. US Secretary of State Antony Blinken said the United States was taking steps to control Iran’s efforts to evade sanctions over the sale of petroleum and petrochemical products. He said the Ministry of External Affairs specifically bans two China-based companies – Zhonggu Storage and Transportation Co Ltd and WS Shipping Co Ltd. Blinken said in a statement that the Treasury Department was 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, the Indian petrochemical company “Tibalaji Petrochem Private Limited” has been banned. In fact, Iran’s oil economy is being hit hard by US sanctions and the country’s economy is also suffering. Recently, many such reports have surfaced claiming that Iran is developing new technology in the nuclear field, which would have heightened fears of nuclear war. At the same time, it also emerged that Iran may soon sign a nuclear deal, which could lift US sanctions against it.

However, seeing Iran calm down again on the deal, the United States once again took a tough stance and banned companies trading oil with Iran. The US Treasury Department specifically banned a network of companies involved in the sale of hundreds of millions of dollars of Iranian petrochemicals and petroleum products to South and East Asia.

Keywords: America, Iran