The United States has banned four Indian companies, as announced by the US State Department on Monday, February 24, 2025. The action was taken due to these companies’ involvement in the trade of Iranian crude oil and petroleum products. The Trump administration made this decision to halt oil sales to Iran. The US Treasury Department’s Office of Foreign Assets Control (OFAC) and the US State Department released a statement regarding these sanctions. In addition to these companies, sanctions have been imposed on over 30 individuals and several ships across different countries.

According to information provided by OFAC and the US State Department, the four Indian companies affected by the ban are Flux Maritime LLP (Navi Mumbai), BSM Marine LLP (National Capital Region), Austinship Management Private Limited, and Cosmos Lines Inc. (Thanjavur). Three of these companies were sanctioned for their role as technical managers in transporting Iranian crude oil and petroleum products. The US also stated that Cosmos Lines was specifically banned due to its involvement in Iranian petroleum transportation.

The US sanctions list includes oil intermediaries from the United Arab Emirates (UAE) and Hong Kong, as well as officials from India's National Iranian Oil Company, China's People's Republic, and Iran's National Iranian Oil Terminals Company. OFAC's statement highlighted that these companies financially support Iran's activities. The sanctioned vessels were revealed to have transported millions of barrels of crude oil worth hundreds of millions of dollars. The US State Department stated that Iran’s nuclear weapons program, ballistic missiles, and support for terrorism pose a global security threat. It also emphasized that Iran’s oil exports are being conducted illegally under multiple jurisdictions. The Trump administration’s actions appear to be aimed at curbing Iran’s destabilizing activities.