In a fresh move to tighten the noose around Iran’s energy revenues, the United States has imposed sanctions on nine Indian firms and eight Indian nationals accused of trading in Iranian oil, petrochemicals, and liquefied petroleum gas (LPG). The US State Department and the Treasury’s Office of Foreign Assets Control (OFAC) together named nearly 100 individuals, entities, and vessels tied to Iran’s export network.
According to the State Department, the sanctions are part of Washington’s ongoing “maximum pressure campaign” aimed at disrupting Tehran’s energy export system and curbing its alleged financial support to terrorist organizations.
Among those hit are several Indian companies allegedly responsible for importing Iranian-origin petrochemicals worth hundreds of millions of dollars. These include Mumbai-based CJ Shah & Co, Chemovick, Mody Chem, Paarichem Resources, Indisol Marketing, Haresh Petrochem, Shiv Texchem, and Delhi-based BK Sales Corporation.
The State Department said these firms had been “in direct violation of existing US sanctions on Iran’s energy sector.” Alongside the companies, five Indian executives associated with them --Piyush Maganlal Javiya of Chemovick, Niti Unmesh Bhatt of Indisol Marketing, and Kamla, Kunal, and Poonam Kasat of Haresh Petrochem -- were also sanctioned for allegedly managing or facilitating the banned trades.
Three more Indians -- Varun Pula, Iyappan Raja, and Soniya Shrestha -- were cited by OFAC for links to vessels transporting Iranian LPG. Shrestha, who owns Vega Star Ship Management in Mumbai, is connected to a Comoros-flagged ship that allegedly carried Iranian LPG to Pakistan. OFAC stated that Pula and Raja oversaw companies managing tankers that moved “millions of barrels of Iranian LPG to China since January 2025.”
“Treasury Department is degrading Iran's cash flow by dismantling key elements of Iran's energy export machine,” Treasury Secretary Scott Bessent declared, emphasizing that “under President Trump, this administration is disrupting the regime's ability to fund terrorist groups that threaten the United States.”
The new designations extend an earlier series of penalties; just months ago, in July, Washington had targeted six other Indian companies for similar activities.
As per the announcement, all assets and interests belonging to the sanctioned entities and individuals within US jurisdiction -- or controlled by US persons -- have been frozen. Any firm with ownership of 50 percent or more by these parties will also fall under the sanctions.
Altogether, the State Department listed nearly 40 people, entities, and vessels involved in the petroleum and petrochemical trades, while OFAC’s list added about 60 more participants linked to Iranian energy exports. The coordinated action underscores Washington’s continued efforts to choke Iran’s energy earnings and extend economic isolation against its allies and facilitators abroad.
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