US Imposes Sanctions on India- and Turkey-Based Firms and Individuals for Alleged Support to Iran

The United States has decided to impose sanctions on certain firms and individuals operating in India and Turkey on the grounds that they provided support to Iran. According to a Reuters report, the sanctions are based on the allegation that existing restrictions on Iran were violated. The parties added to the sanctions list are said to have commercial or operational ties with Iran. The decision is considered within the scope of the US policy to tighten the sanctions regime against Iran. While restrictions on assets and transaction bans for India- and Turkey-based companies and individuals are on the agenda, details regarding the scope of the sanctions are limited in the source of the report. The US move indicates increased scrutiny of actors in third countries regarding their commercial relations with Iran. It is assessed that the sanctions may affect the relations of the relevant firms and individuals with the international financial system. Not investment advice.