Business News / America bans a dozen companies involved in trade with Iran

Vikrant Shekhawat : Apr 26, 2024, 07:42 AM
Business News: America has now taken big action amidst the increasing tension between Iran and Israel. The US has banned more than a dozen companies, people and ships on charges of facilitating illegal trade and UAV transfers on behalf of the Iranian military. 3 Indian companies are also included in the list of banned companies imposed by America. According to the agency, the US Treasury Department said that these companies, individuals and vessels played a major role in facilitating and funding the secret sale of Iranian unmanned aerial vehicles to Russia's war in Ukraine.

Ban imposed on 3 Indian companies

India's Sahara Thunder has been identified as the lead company in this matter, which oversees Iran's commercial activities in support of these efforts. The three India-based companies banned for supporting Sahara Thunder are Zen Shipping, Port India Private Limited and Sea Art Ship Management Private Limited.

What is the allegation?

According to the Russian and Venezuelan treasury, the Iranian Army unit Sahara Thunder operates over a large shipping network, involved in the sale and shipment of Iranian goods to the People's Republic of China, multiple jurisdictions, on behalf of Iran's Ministry of Defense and Armed Forces logistics. Is. According to news agency PTI, it has also been said that Sahara Thunder has entered into time-charter contracts with India's Zen Shipping and Port India Pvt Ltd for the Cook Islands flag vessel CHEM (IMO 9240914). It is managed and operated by UAE-based Safe Seas Ship Management FZE.

What work do companies do?

According to the Treasury, Sahara Thunder has used CHEM for several shipments of commodities from 2022. Iran-based Arsang Safe Trading Company has provided ship management services in support of several Sahara Thunder-related shipments, including CHEM.

According to Treasury, Iran's Asia Marine crown agency served as port agent in Port Abbas, Iran, supporting several Sahara Thunder shipments. India's Sea Art Ship Management (OPC) Private Limited and UAE-based company Trans Gulf Agency LLC have collaborated to provide ship management services in support of Sahara Thunder. Coral Trading EST of UAE and Iran has purchased Iranian goods from Sahara Thunder.