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Mumbai firm slapped with US sanctions for buying Russian oil and selling it in China

Content Team
Image Credit: FPJ

In what is likely the first action against an Indian company for allegedly dealing in Iranian petroleum products, the US Treasury Department has imposed sanctions on Mumbai-based Tibalaji Petrochem Private Limited. On Thursday, the Department said that the company "purchased millions of dollars worth" petrochemical products, for "onward shipment to China".

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