Mumbai-based Tibalaji Petrochem Pvt. Ltd. sanctioned for importing 'millions of dollars' worth' of petrochemical products from Iran and exporting them to China.
Iran has been subject to US sanctions since 2018, when the Trump administration unilaterally withdrew from a deal that restricted the Middle Eastern country’s nuclear activities.
The incoming Joe Biden administration will take time to lift Trump’s sanctions and return to the Iran nuclear deal, so India is adopting a cautious approach.
India, the second largest buyer of Iranian oil, halted imports from the country this month after a US deadline against continued crude trade kicked in.
US Commerce Secretary Wilbur Ross, on a visit to New Delhi, said trade between the two countries is affected by a plethora of tariff and non-tariff barriers.
Israel's response to Iran's retaliatory attack was relatively small and also downplayed by Tehran. But there are factors that could jeopardise this perceived reprieve.
The 125 APAs include 86 Unilateral APAs (UAPAs) and 39 Bilateral APAs (BAPAs). The total number of APAs since the start of the APA programme has risen to 641, with 506 UAPAs and 135 BAPAs.
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