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China has warned of retaliation if Washington expands sanctions on Chinese companies linked to Iran oil trade.
Recent U.S. sanctions also targeted entities in Hong Kong and mainland China, while major Chinese financial institutions were spared.
India-based companies and nationals have already been sanctioned for trading Iranian oil.
India's bilateral trade with Iran has fallen sharply in recent years, though some agricultural and pharmaceutical trade continues.
Why it mattersStricter US sanctions threaten key Asian economies and global energy markets.
More context
Exporters are worried about high freight costs and frozen financial transactions.
Trade experts say broader exposure, including investments such as Chabahar Port, has faced severe disruption.