U.S. slaps sanctions on Indian, Turkish firms and people for aiding Iran
The U.S. Treasury has imposed new sanctions on Indian and Turkish entities for supporting Iran's economy amid ongoing geopolitical tensions. These actions are part of a broader strategy to restrict Iran's oil revenue following U.S. midterm election shifts.
Why it matters
These sanctions impact international trade relations and reflect the U.S. government's ongoing efforts to exert economic pressure on Iran.
WASHINGTON The U.S. Treasury issued fresh sanctions on Wednesday (November 4, 2026) against companies and individuals based in India and Turkiye for their support of Iran, warning that it would continue to go after anyone who supported the Iranian government. The sanctions are part of the Trump administration’s “Operation Economic Outcast,” which aims to cut off Iran’s ability to sell oil to fund the war with the U.S. and Israel. Treasury unveiled the new sanctions a day after Democrats made huge gains in midterm elections, winning control of both houses of Congress as voters expressed anger about the Iran war and its impact in fueling U.S. inflation. Democrats win U.S. House in growing midterms wave against Trump storyline 1 U.S.
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