US imposes sanctions on Indian company over alleged Iran oil deal
In what is likely the first action against an Indian company for allegedly dealing in Iranian petroleum products, the US Treasury Department has imposed sanctions on Mumbai-based Tibalaji Petrochem Private Limited.
On Thursday, the Department said that the company “purchased millions of dollars worth” petrochemical products, for “onward shipment to China”.
The company was one of eight that were hit in the latest round of sanctions.
The others are located in the United Arab Emirates (UAE), Hong Kong and China.
