US Imposes Sanctions on Two Indian Shipping Firms for Alleged Involvement in Iranian Oil Transport
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New York, Dec 5 (NationPress) The United States has announced sanctions against two Indian shipping companies, asserting they were involved in a significant role in the transportation of Iranian oil, thereby violating the US embargo.
These two companies were included in a list of 35 ships and firms sanctioned by the Treasury Department on Tuesday.
The firms in question are Vision Ship Management LLP, based in Thane, and Tightship Shipping Management (OPC) Private Limited from Navi Mumbai. The department claimed these companies operate or manage vessels within the shadow fleet that transports Iranian oil.
In a statement regarding the sanctions, Acting Under Secretary for Terrorism and Financial Intelligence Bradley Smith emphasized that the US is dedicated to disrupting the shadow fleet of vessels and operators that support Iran's financing of its nuclear, ballistic missile, and drone programs, as well as its sponsorship of regional terrorist proxies.
The sanctioned list also included firms based in China and the United Arab Emirates.
The Treasury Department highlighted that Vision managed a ship that transported millions of barrels of Iranian crude oil for China Concord Petroleum Co (CCPC), which is already under sanctions.
This company is the owner of the Cook Islands-flagged Rio Napo, which carried naphtha valued at approximately $21.5 million to the UAE, along with the Panama-flagged LARA II.
Notably, the Treasury Department accused Tightship of managing the Panama-flagged Tonil, stating it is operated by Ukraine-based Lightship Management Ltd and has evaded sanctions to transport millions of barrels of oil for Iran.
Ukraine, a US ally, is currently facing challenges from Iran, which is reportedly supplying drones to Russia amid its invasion.
Furthermore, the Treasury Department indicated that Tightship managed three vessels that collectively transported tens of millions of dollars worth of oil for the government-owned National Iranian Oil Company (NIOC), with one ship involved in the transfer of oil from Iranian-flagged vessels.
In November, the US sanctioned another Indian firm, Gabbaro Ship Services Private Ltd, for its involvement in the Iranian oil trade.
The sanctions result in the freezing of assets belonging to these companies within the US and prohibit any transactions involving them.
