Jul 31, Kathmandu - The US has imposed fresh sanctions on 24 companies, including six Indian companies, for allegedly buying banned chemical and petrochemical products from Iran.

The sanctions, announced by the US State Department on Wednesday, target seven companies from China, six from the United Arab Emirates (UAE), three from Hong Kong, and one each from Turkey and Russia, in addition to India.

According to the ministry, these companies imported large quantities of petrochemical products from Iran in violation of US sanctions. The US accuses Iran of using the proceeds from such trade to expand its nuclear program, sow instability in the Middle East and finance terrorist organizations.