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.

AI Summary

Client Considers Writ Petition After UCO Bank Denies Payments Due to US Sanctions on Iran Chemical Exports A client exporting chemical goods to Iran via UCO Bank in India faces issues due to US sanctions, which have led the bank to deny payments from Iran. The client is considering filing a writ to the High Court to release pending payments from UCO Bank's treasury office in Mumbai. Despite informal assurances about payment balances until April 30, 2020, there is no written guarantee for current transactions. The client seeks clarity on whether US sanctions specifically target Indian chemical exports to Iran and requests legal documentation to confirm this. The response indicates that both UN and US sanctions on Iran are valid, suggesting a writ petition may be futile.