US sanctions 4 Indian firms for their 'involvement' in Iran's oil industry

Four Indian companies are among 16 firms sanctioned by US for their alleged involvement in Iran’s petroleum and petrochemical industry. According to US' treasury department, the sanctioned Indian firms are Austinship Management, BSM Marine, Cosmos Lines, and Flux Maritime. These companies played a critical role in transporting, selling, and marketing Iranian oil despite global sanctions, it said.