EXPORT TO IRAN AND US SACNTION, Customs - Exim - SEZ

[NISHANT SHAH]

Dear All Experts,

My client do export chemical goods to Iran since last 1 year and we managed UCO Bank in india for receiving its payment but now due to some stringent US Tariff sanction applied on Indian country, our UCO Bank denied any payment from iran. They informally said that they would have balance upto 30th Apr 2020 but they don't assure us for payment of current shipping order with our iran buyer. Can we make WRIT to High Court about our pending payment to be released from UCO Treasury office, Mumbai. We contact to our Treasury officer at Mumbai, he asked us not to engaged in further deal with iran. He don't give us written undertaking that they will make us payment. My question is whether US Sanction is applied to Indian country specifically for Chemical goods and if so, can i know its legal validity through any written document?

Pls guide me if anyone has any refrence to support my issue.

Posts / Replies

[YAGAY andSUN]

UN and USA both put sactions on IRAN, therefore, valid. you may file writ petition but there will be no use.

https://dgft.gov.in/more/trade-links/unsc-resolution/un-resolution-iran