3 Indian companies under US sanctions for 'illicit trade' and ties with Iran

The United States has sanctioned three Indian companies, along with some other companies from across the world, for facilitating “illicit trade” and “unmanned aerial vehicle (UAV) transfer” on behalf of the Iranian military. 

In an official statement, the US Department of Treasury said, “These companies, individuals and vessels have played a central role in facilitating and financing the clandestine sale of Iranian UAVs to Russia’s war in Ukraine.”

Zen Shipping, Port India Private Limited, and Sea Art Ship Management (OPC) Private Limited have been sanctioned for supporting ‘Sahara Thunder’, a company that is involved in the sale and shipment of Iranian commodities on behalf of Iran’s Ministry of Defence and Armed Forces Logistics to the China, Russia, and Venezuela.

"Sahara Thunder has entered into time-charter contracts with India-based Zen Shipping and Port India Private Limited for the Cook Islands-flagged vessel CHEM (IMO 9240914), which is managed and operated by UAE-based Safe Seas Ship Management FZE," it said.

"Sahara Thunder has used the CHEM to conduct multiple shipments of commodities since 2022. Iran-based Arsang Safe Trading Co. has provided ship management services in support of several Sahara Thunder-related shipments, including those by the CHEM," the US Treasury Department said.

Iran-based Asia Marine Crown Agency has served as the port agent in Bandar Abbas, Iran supporting several Sahara Thunder shipments, the US Treasury said.

"India-based Sea Art Ship Management (OPC) Private Limited and UAE-based company Trans Gulf Agency LLC have worked together to provide ship management services in support of Sahara Thunder. The UAE and Iran-based Coral Trading EST. have purchased Iranian commodities from Sahara Thunder," it said.

The sanctions come amid heightened tensions between Washington and Tehran in the past few weeks.

"Iran’s Ministry of Defence continues to destabilise the region and world with its support to Russia’s war in Ukraine, unprecedented attack on Israel, and proliferation of UAVs and other dangerous military hardware to terrorist proxies," said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E Nelson.

"The US, in close coordination with our British and Canadian partners, will continue to use all means available to combat those who would finance Iran’s destabilising activities," he said.

(With inputs from agencies)