US sanctions intl network of companies, including India-based firm, for role in Iran’s petrochemical trade

The United States has announced a fresh round of sanctions for an international network of companies involved in selling Iranian petrochemicals and petroleum products, including an India-based petrochemical company. The US Treasury Department said these punitive measures target Iranian brokers and several front companies in the UAE, Hong Kong, and India that have facilitated financial transfers and shipping of Iranian petroleum and petrochemical products. The US government claims that Triliance, a critical component of Iran’s petroleum and petrochemical sectors, which brokers the sale of Iranian products to foreign purchasers, has purchased millions of dollars’ worth of Iranian petrochemical products from…