EXPORT TO IRAN AND US SACNTION

[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.

[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

AI Summary

Sanctions on Iran constrain cross-border payments and may cause banks to refuse processing, limiting judicial remedy options. An exporter reports UCO Bank refusing to process payment for chemical exports to Iran, with the bank and treasury officer advising against further dealings and declining written assurance; the exporter seeks confirmation whether US-related sanctions apply to Indian transactions and documentary proof. The respondent states international and United States sanctions on Iran are operative, attributing the banking refusal to those sanctions and noting a writ petition is available but unlikely to secure payment, citing a government trade link for sanctions guidance.