The US on Thursday imposed sanctions on two Mumbai-based firms and five Indian nationals over allegations of involvement in the trade of petroleum products from Iran, news agency PTI reported.
According to the PTI report, the US Department of State targeted SSPL Solutions Private Limited and Samudra Marine Services Private Limited for facilitating the import of petroleum products from Iran.
Two persons associated with SSPL Solutions — Dhwani and Nisarg Vora — and three persons linked to Samudra Marine Services — Ketan Kochikar, Bhupendrasingh Sahu and Harishyam Hariharan Chundakattil — had also been blocked from carrying out transactions related to their respective firms, the report said.
The action against the Indian entities and individuals is part of the US crackdown on Iran under Operation Economic Outcast.
“The Department of State is sanctioning ten entities, six individuals, and five vessels in connection with trade in Iranian-origin petroleum, petroleum products, and petrochemical products,” an official statement said.
The State Department said the entities had channelled millions of dollars to the Iranian regime, bolstering one of its most critical revenue streams and enabling its continued illicit conduct.
“The US government is imposing sanctions on both the buyers and sellers driving this trade in Iranian petrochemical products,” the department said.
The US also authorised Samudra Marine Services to wind down its transactions until October 23, PTI reported.
A wind-down period is a temporary, authorised grace period that allows parties to complete existing business and exit operations before new sanctions or liquidation requirements take full effect.
Separately, the US Treasury Department sanctioned 17 entities and their shadow fleet vessels to deprive the Iranian regime of funds.
“Treasury is starving the tyrannical regime in Tehran of the money it uses to wage war in the region, and we will continue exposing those who enable the regime’s oil sales,” Treasury Secretary Scott Bessent said.
“No enabler of Iranian sanctions evasion is safe from the full force of Treasury's authorities,” he added.
(With inputs from PTI)