New York, Sep 30 (TIWN) 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". The company was one of eight that were hit in the latest round of sanctions. The others are located in the United Arab Emirates (UAE), Hong Kong and China. The sanctions came shortly after India's External Affairs Minister S. Jaishankar wrapped up his visit to Washington where he met several top officials, including Secretaries Antony Blinken of State, Lloyd Austin of Defence and Gail Raimondo of Commerce, and National Security Adviser Jake Sullivan.