The US Department of State announced the sanctions on Wednesday, alleging the Indian firms knowingly engaged in "significant transactions" for the purchase and marketing of Iranian petroleum products, violating American sanctions on Iran.
Taiwan's government is ramping up efforts to combat origin fraud, which has led to nearly 800 cases since 2020 and fines of NTD 29.58 million. The issue has become a key concern in tariff negotiations with the United States, particularly for Taiwanese semiconductor firms facing higher duties