US sanctions four Indian firms, three individuals over $119 million in Iranian petroleum imports - CNBC TV18

**U.S. Imposes Sanctions on Four Indian Companies and Three Individuals Over Iranian Oil Imports**

Washington announced on Tuesday that four India‑based firms and three private individuals have been added to its secondary sanctions list for facilitating roughly **$119 million** in petroleum shipments from Iran to India between 2021 and 2023. The designations, issued by the Office of Foreign Assets Control (OFAC), prohibit U.S. persons from conducting any transactions with the listed entities and threaten to cut off their access to the U.S. financial system. While the exact names of the companies were disclosed in the OFAC release, they include two major trading houses and two smaller importers that have historically sourced crude from Iran to meet India’s domestic energy demand. The individuals—two Indian nationals and one Iranian‑connected businessman—are accused of arranging the payments and logistics that evaded earlier U.S. export controls.

The move comes as part of a broader U.S. effort to tighten pressure on Tehran after the collapse of the 2015 nuclear deal and in the wake of President **Donald Trump’s “economic D‑Day”** rhetoric, which signals a willingness to employ aggressive financial tools to curb Iran’s oil revenues. Analysts at Al Jazeera and the BBC note that the sanctions are intended to close loopholes that have allowed Iran to continue shipping oil through third‑party nations, including India, which has long been a key market for Tehran’s discounted crude. The Hindu reports that Indian officials have expressed concern about the impact on the country’s energy security and have urged Washington to consider the broader implications for Indo‑U.S. trade relations.

India’s Ministry of External Affairs responded by reiterating its commitment to comply with international sanctions while defending the right of Indian businesses to conduct legitimate trade. Meanwhile, China, a long‑standing ally of Iran, warned that U.S. actions “should not interfere with our Iran ties,” echoing a broader geopolitical contest over influence in the region. Trade experts caution that the sanctions could push Indian importers to seek alternative sources or to route purchases through opaque channels, potentially heightening compliance risks for multinational banks. As the sanctions list expands, companies with exposure to Iranian oil are expected to tighten due‑diligence procedures to avoid secondary penalties.