US imposes new sanctions on firms linked to Iranian oil and petrochemical trade

The United States has imposed fresh sanctions on companies, individuals and vessels linked to the trade in Iranian oil, petroleum products and petrochemicals, targeting networks associated with India, the United Arab Emirates (UAE), Turkey, Iran and the United Kingdom.

According to the US State Department, the measures are aimed at restricting Iran’s revenue from oil and petrochemical exports by targeting businesses and individuals allegedly involved in purchasing, importing, selling or transporting Iranian products.

Five Indian nationals have been included in the sanctions list, among them Dhwani Nisarg Vora and Nisarg Samir Vora, directors of Indian company SSPL Solutions.

Also targeted are Ketan Manohar Kochikar, Bhupendrasingh Dhalsingh Sahu and Harishyam Chundakattil, who are associated with Samudra Marine Services.

US officials said the companies were involved in the trade or import of Iranian petrochemical products.

Saeed Ahmad Noorzad, a Turkish national and director and chief executive of Noorzad Petrochemical, has also been sanctioned.

According to US authorities, the company purchased Iranian petrochemical products worth approximately $3.8 million.

The UAE-based Arabian Pro Materials has also been targeted over its alleged export of Iranian petrochemical products worth around $2 million.

In addition, UAE-based Horizon Ship Management and Hasonite Ship Management have faced sanctions.

US officials said vessels linked to the companies had been involved in transporting Iranian oil and gas products.