The True Post(Web News) In another blow to India, the United States imposed sanctions on 7 Indian companies involved in secret oil trade with Iran.
The US State Department said in a statement that Iran is using oil revenues to destabilize the Middle East and exploit its own people. Tough economic sanctions are being imposed on 20 companies around the world that facilitate these activities, 7 of which are based in India. According to US officials, in addition to these companies, action is being taken against 10 ships that were found to be involved in the transportation of Iranian petroleum and petrochemical products. The move comes a day after President Trump announced a 25% import tariff and additional financial penalties on India. Trump bluntly said on his social media platform Truth Social that India is engaging in trade hypocrisy under the guise of friendship. President Trump said that we have always considered India a good friend, but the fact is that India has traded unfairly with the United States. “Its tariffs are unacceptably high and its non-financial barriers are extremely onerous. Now is the time for India to respond.”
