U.S. sanctions two Mumbai firms and five Indian nationals over Iranian oil trade

The U.S. government imposed sanctions on two Mumbai-based firms and five Indian nationals, according to media reports.

The action targets alleged involvement in the Iranian oil trade.

The measures are linked to "Operation Economic Outcast," according to Mathrubhumi English.

The U.S. also sanctioned firms based in the UAE and Turkey over Iranian oil trade, according to media reports.

The sanctions target two Mumbai-based firms, five Indian nationals, and entities in the UAE and Turkey over alleged trade of Iranian oil.

The sanctions are an enforcement action by the U.S. government against entities and individuals for alleged trade with Iran.