Atlantic Navigation from India sanctioned for trade of Iranian petroleum

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Atlantic Navigation from India sanctioned for trade of Iranian petroleum - Business Standard

Quick Summary:

The United States imposed sanctions on Thursday on four entities and three vessels involved in the trade of Iranian petroleum and petrochemicals, which generate billions of dollars' worth of revenue for the Iranian regime, the Department of Treasury said.

"Iran continues to rely on its shadowy network of vessels, companies and facilitators to finance the development of its nuclear programme, the proliferation of its weapons systems and support to its proxies," said Acting Under Secretary for Terrorism and Financial Intelligence Bradley T Smith.

Simultaneously, the Department of State also imposed sanctions on four entities engaged in the Iranian petroleum trade and identified six vessels as blocked property.