US sanctions 2 Indian shipping sector companies alleging involvement in Iran oil trade

New York: The US is sanctioning two Indian shipping sector companies alleging that they played a “critical role” in transporting Iranian oil in defiance of the US embargo.

The two companies were among the 35 ships and companies sanctioned on Tuesday by the Treasury Department.

They are Thane-based Vision Ship Management LLP and Navi Mumbai-based Tightship Shipping Management (OPC) Private Limited which, the department alleged, operate or manage ships in the “shadow fleet” that transport Iranian oil.

Announcing the sanctions, Acting Under Secretary for Terrorism and Financial Intelligence Bradley Smith said the US was “committed to disrupting “shadow fleet of vessels and operators” who facilitate Iran’s ability to fund it nuclear, ballistic missile, and drone programmes, and to sponsor “regional terrorist proxies”.

The list included companies based in China and the United Arab Emirates.

The Treasury Department alleged that Vision managed and operated a ship that “carried millions of barrels of Iranian crude oil” for China Concord Petroleum Co (CCPC), which had already been sanctioned.

The company owns the Cook Islands-flagged Rio Napo, which carried “naphtha worth approximately $21.5 million to the UAE”, and the Panama-flagged LARA II.

Intriguingly, the Treasury Department accused Tightship of being involved in the management of Panama-flagged Tonil, which it said, “is managed and operated by Ukraine-based Lightship Management Ltd and has skirted sanctions to carry millions of barrels of oil for Iran”.

Ukraine is an ally of the US and is ranged against Iran, which it said is supplying drones to Russia which is invading the country.

The Treasury Department also said that Tightship managed three ships that collectively carried tens of millions of dollars worth of oil for the government-owned National Iranian Oil Company (NIOC) and one of them was involved in transferring oil from Iranian-flagged ships.

Last month, the US had sanctioned another Indian company, Gabbaro Ship Services Private Ltd, accusing it of involvement in Iranian oil trade.

The sanctions freeze properties belonging to those companies in the US and prohibit others from transacting with them.

IANS