Joe Biden, President of America.
Washington: Taking a tough step against Iran, America has banned its India-based Atlantic Navigation OPC Private Limited. America has imposed this ban on Thursday on the charges of trading in Iranian petroleum and petrochemicals. The US on Thursday imposed sanctions on four entities and three ships involved in the Iranian petroleum and petrochemicals business, which generates billions of dollars in revenue for the Iranian regime, the Finance Ministry said.
“Iran uses vessels, companies, and facilities to support the development of its nuclear program, the proliferation of its weapons systems, and its allies,” said Bradley T. Smith, acting US Deputy Secretary of Terrorism and Financial Intelligence. The Foreign Ministry also imposed sanctions on four entities involved in Iranian petroleum trade and listed six ships as prohibited assets.
Iran’s business is linked to terrorist activities
America has alleged that Iran’s oil business is linked to suspected terrorist activities. The US ministry said Iran’s oil exports are driven by a network facilitating illegal shipping across multiple jurisdictions that take and transport Iranian oil to sell to buyers in Asia through confusion and deception. The Ministry of External Affairs said Atlantic Navigation OPC Private Limited is an India-based company involved in the transportation of Iranian petroleum as the ISM manager of the Vigor vessel. (Language)
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