The United States has imposed sanctions on more than 50 entities, individuals, and vessels, including two Indian nationals for allegedly facilitating the sale of Iranian energy products, as part of its broader effort to dismantle Iran’s oil and petrochemical export network.
The sanctions, announced Thursday by the US Treasury Department’s Office of Foreign Assets Control (OFAC), target actors accused of helping Iran export billions of dollars’ worth of petroleum and related products, which Washington says fund terrorist activities and pose a threat to US national security.
“These actors have collectively enabled the export of billions of dollars’ worth of petroleum and petroleum products, providing critical revenue to the Iranian regime and its support for terrorist groups that threaten the United States,” the Treasury Department said in a statement.
The move is part of the Trump administration’s ongoing strategy to cut off Iran’s financial lifelines.
"The Treasury Department is degrading Iran's cash flow by dismantling key elements of Iran's energy export machine," it said, quoting Secretary of the Treasury Scott Bessent.
Among those sanctioned are Indian nationals Varun Pula and Soniya Shrestha.
According to the US statement, Varun Pula owns Bertha Shipping Inc., a company registered in the Marshall Islands, which operates the Comoros-flagged vessel PAMIR. The vessel has reportedly transported nearly four million barrels of Iranian liquefied petroleum gas (LPG) to China since July 2024.
Soniya Shrestha, the other Indian national named, owns Vega Star Ship Management Private Limited. The company operates the Comoros-flagged vessel NEPTA, which is accused of carrying Iranian-origin LPG to Pakistan since January 2025.
As a result of the sanctions, all property and interests in property of the designated individuals and entities within the United States, or in possession or control of US persons, are now blocked and must be reported to OFAC.
Additionally, any entity that is 50 percent or more owned by one or more blocked persons is also subject to sanctions.
(With Inputs from PTI)