US Secretary of State Mike Pompeo, who announced the decision, did not name the eight, which he referred to as "jurisdictions," a term that might include importers such as Taiwan which the United States does not regard as a country.
The latest escalation in the tit-for-tat trade war between the US and China stoked worries over global economic growth and demand for oil. Beijing on Tuesday quickly added $60 billion of US products to its import tariff list in retaliation for Trump's planned levies on $200 billion worth of Chinese goods.
Many countries, including US allies in Europe as well as China and India oppose the introduction of new sanctions, but the US government said it wants as many countries as possible to stop buying Iranian oil.
When ONGC Board had on March 28, 2016, approved investing USD 5.07 billion in bringing to production a cluster of discoveries in Bay of Bengal block KG-DWN-98/2 or KG-D5, the first gas was targeted for June 2019.
That is creating a domestic shortage that China's independent refiners - often called teapots - are rushing to meet, while also raising their output to profit from a hike in state-controlled gasoline and diesel retail prices.