Washington, October 07, 2022 (PPI-OT):The United States has banned an Indian company that has an agreement to buy petroleum and petroleum-related products from Iran. The sanctions came shortly after India’s External Affairs Minister S Jaishankar wrapped up his visit to Washington where he met several top officials, including Secretaries Antony Blinken of State, Lloyd Austin of Defence and Gail Raimondo of Commerce, and National Security Adviser Jake Sullivan.

The US Treasury Department in a briefing said, several international companies, including the Indian company, have imported millions of dollars’ worth of petroleum-related products through Iran’s TriLance, especially methanol and oil. India-based petrochemical company Dibalji Petrochem Pvt Ltd along with a United Arab Emirates company and some companies in Hong Kong are also on the US sanctions list.

The Treasury Department said that under the sanctions, all the properties and interests in the US of the eight companies or those in which they have at least 50 per cent interest “must be blocked” and reported to its Office of Foreign Assets Control (OFAC).

When asked by a reporter at a briefing if the Iran sanctions came up during Jaishankar’s meeting with Blinken, State Department Deputy Spokesperson Dev Patel said they had nothing beyond what they said at their news conference.

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