US imposes fresh sanctions on Indian nationals, firms over Iran's energy exports
Treasury Secretary Scott Bessent said the department is "degrading Iran's cash flow by dismantling key elements" of the Iranian energy export machine.
The US Treasury Department on Thursday intensified its efforts against Iran's energy exports and expanded sanctions against several individuals and shipping companies, including those based in India.
Its official press release said that the US Department of the Treasury's Office of Foreign Assets Control (OFAC) was sanctioning 50 individuals, entities, and vessels that "facilitate Iranian oil and liquefied petroleum gas (LPG) sales and shipments from Iran".
Treasury Secretary Scott Bessent said the department is "degrading Iran's cash flow by dismantling key elements" of the Iranian energy export machine.
He said that the move was aimed at disrupting Iran's ability to fund terrorist groups with the billions of dollars' worth of petroleum-related exports.
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“Under President Trump, this administration is disrupting the regime’s ability to fund terrorist groups that threaten the United States," Bessent added.
The sanctions are imposed on a network moving Iranian LPG with nearly two dozen shadow fleet vessels, a China-based crude oil terminal, and an independent "teapot" refinery, which the Treasury Department said are "key to Iran's ability to export petroleum and petroleum products to generate significant revenue".
Which Indian companies are sanctioned by US?
The US Treasury Department said that the Iranian shadow fleet uses several tactics to mask the shipments of its petroleum exports and relies on services from companies based in other countries to deliver its goods.
"Iranian exporters often transfer cargoes between shadow fleet vessels, at times with the aid of tugboats, in the Persian Gulf and in the waters off the coast of Singapore and Malaysia in order to disguise the origin of their cargoes," the department said.
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Among the several companies sanctioned are Indian national Varun Pula's Bertha Shipping Inc., Iyappan Raja-owned Evie Lines Inc., Soniya Shreshtha's India-based Vega Star Ship Management Private Limited.
The department said that Marshall Islands-based Bertha Shipping Inc. is the owner and ship manager of Comoros-flagged PAMIR, which has transported nearly four million barrels of Iranian LPG to China since July 2024.
Marshall Islands-based Evie Lines Inc. is the owner and operator of the Panama-flagged SAPPHIRE GAS, which has transported over a million barrels of Iranian LPG to China since April 2025.
Lastly, India-based Vega Star Ship Management Private Limited owns and operates the Comoros-flagged NEPTA, which has transported Iranian LPG to Pakistan since January 2025.
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Indian national Soniya Shreshtha's Vega Star Ship Management has also been designated for operating in the Iranian petroleum sector.
In July as well, the US State Department had sanctioned six Indian companies for trading in Iranian petrochemical products.
US on Iran exports
The department cited a collection of executive orders signed by President Donald Trump, including one from February that called for the US to "drive Iran's export of oil to zero".
The US sanctions also deny the people and companies access to any property or financial assets held in the US and prevent American businesses and citizens from doing business with them.
Following the Israel and Iran tensions earlier this year, and the resultant escalation between Washington and Tehran, Trump's "maximum pressure" move is meant to deny Iran any access to nuclear weapons.
In September, the United Nations reimposed sanctions on Iran over its nuclear programme. At present, Iran's rial currency is at a record low, with increasing pressure on food prices that have made daily life much more challenging.
