The Indian entities added to the US sanctions list are:
- Austenship Management Private Ltd, Noida
- BSM Marine Ltd, Gurgaon
- Cosmos Lines, Thanjavur
- Flux Maritime, Navi Mumbai
These companies have been accused of illegally facilitating the sale, transportation, and marketing of Iranian oil, thereby circumventing both US and UN sanctions designed to restrict Iran’s oil exports. According to the US Department of the Treasury’s Office of Foreign Assets Control (OFAC), these firms played a key role in transferring Iranian oil to various destinations, bolstering Iran’s economy despite global restrictions.
In addition to the companies, the US has also sanctioned vessels connected to them. The Gabon-flagged YATEEKA is linked to BSM Marine Limited Liability Partnership, while the Eswatini-flagged AMAK is associated with Austinship Management Private Limited. Furthermore, Flux Maritime LLP is cited for its role in facilitating Iranian oil shipments via ship-to-ship transfers.
“Iran continues to rely on a shadowy network of vessels, shippers, and brokers to facilitate its oil sales and fund its destabilizing activities,” said Secretary of the Treasury Scott Bessent. “The United States will use all our available tools to target all aspects of Iran’s oil supply chain, and anyone who deals in Iranian oil exposes themselves to significant sanctions risk.”
These sanctions are part of the US’s ongoing efforts to clamp down on Iran’s oil trade, a key point of tension between the two countries. The sanctions aim to cut off Iran’s access to global markets and reduce its oil exports to zero, in line with the President’s campaign for maximum pressure on the Iranian regime.
