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Washington sanctions four UAE companies for Iran oil trade involving India

IANS
Updated: May 1st, 2025, 12:32 IST
in Business, International
0
UAE based comanies

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New York: In a crackdown on Iranian exports, the US has sanctioned four United Arab Emirates-based companies that have trade links with Indian companies for allegedly trading in Iranian petroleum products.

“So long as Iran attempts to generate oil and petrochemical revenues to fund its destabilising activities and support its terrorist activities and proxies, the United States will take steps to hold both Iran and all its partners engaged in sanctions evasion accountable,” US Secretary of State Marco Rubio said Wednesday.

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The State Department said that it was imposing sanctions on those companies “for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.”

It said the four companies “generated hundreds of millions of dollars in illicit funds for Iran’s destabilising activities” by exporting Iranian products to third countries, which it did not name.

The Department’s announcement said the companies were Shivnani Organics FZE, Solvent Organics FZE, AlSeerah Trading LLC, and Harold Trading LLC, which enabled Iran to evade sanctions.

Shivnani Organics exported petroleum products to Indian companies, according to Trademo, which tracks the supply chain.

Three other companies, Solvent Organics FZE, AlSeerah Trading LLC, and Harold Trading LLC, exported to Indian companies, according to TradeMo, which tracks international trade.

In addition, another company based in Turkey was sanctioned for importing Iranian products.

Under the sanctions, their property and property interests in the US or under the control of Americans are blocked, and transactions with them are banned.

The sanctions also apply to anyone with at least 50 per cent stakes in the companies.

In the past, several Indian companies or companies with links to India in the shipping field have been sanctioned.

IANS

Tags: IranMarco RubioOil tradeUAE companiesWashington
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