According to the Office of Foreign Assets Control (OFAC) of the US Department of Treasury, the Indian company Tibalji Petrochem Pvt Ltd has been sanctioned for an oil deal with Iran.
The United States imposed sanctions on an Indian corporation for buying Iranian oil and petrochemicals a day after External Affairs Minister S. Jaishankar's visit.
The US has sanctioned a number of companies, including several from the United Arab Emirates and Hong Kong, including the Indian petrochemical firm Tibalaji Petrochem Private Limited. The Iranian brokers and a number of front firms in India, the United Arab Emirates, and Hong Kong that helped facilitate transfers of money and the shipping of Iranian petroleum and petrochemical items have been targeted by the sanctions.
According to the Office of Foreign Assets Control (OFAC) of the US Department of Treasury, Tibalji Petrochem Pvt Ltd has purchased petrochemical products worth millions of dollars from Triliance, an Iranian company t...