Washington, Oct 11: Eight Indian nationals and several India-based firms are among the over 50 entities and persons sanctioned by the US for allegedly facilitating Iranian energy trade, according to an official statement.
The State Department imposed sanctions on approximately 40 entities, individuals and vessels to “deny the Iranian regime funds it uses to conduct its malign activity,” the department said in a press release on Thursday.
While the Department of the Treasury’s Office of Foreign Assets Control (OFAC) concurrently imposed sanctions on over 50 entities, persons and vessels involved in exporting Iranian petroleum and liquefied petroleum gas (LPG) to global markets.
The lists released by the two departments included eight Indian nationals, who were added to Washington’s list of “Specially Designated Nationals (SDN) and Blocked Persons”. Those on the list are barred from doing business with Americans and face restrictions on entry to the US.
Those sanctioned include Niti Unmesh Bhatt, whose India-based Indisol Marketing Private Limited was also sanctioned.
The petrochemical trading company imported approximately USD 74 million worth of Iranian-origin petrochemical products from a US-designated firm between January and December 2024.
Also on the list was Piyush Maganlal Javiya, whose Chemovick Private Limited petrochemical trading company was also sanctioned. It imported more than USD 7 million worth of Iranian-origin petrochemical products from a US-designated firm between 2024 and 2025.
Kamla Kanayalal Kasat, Kunal Kanayalal Kasat and Poonam Kunal Kasat were also on the list. Their company, Haresh Petrochem Private Limited imported approximately USD 10 million worth of Iranian-origin petrochemical products from multiple companies between January 2024 and February 2025. All three, as well as their company, were sanctioned.
The list also included Varun Pula, who is the owner of Marshall Islands-based Bertha Shipping Inc., which owns and operates the Comoros-flagged vessel PAMIR. The vessel has transported nearly four million barrels of Iranian LPG to China since July 2024. The company was also on the list.
Another Indian national sanctioned was Iyappan Raja, who is the owner of Marshall Islands-based Evie Lines Inc., which owns and operates the Panama-flagged SAPPHIRE GAS vessel. It has transported over a million barrels of Iranian LPG to China since April 2025. Evie Lines Inc. was also on the list of sanctioned entities.
Soniya Shrestha, who owns Vega Star Ship Management Private Limited, was also sanctioned, and so was her company. It owns and operates the Comoros-flagged vessel, NEPTA, which has transported Iranian-origin LPG to Pakistan since January 2025.
Other India-based entities on the OFAC’s SDN list include B K Sales Corporation, C.J. Shah and Co., Mody Chem, Paarichem Resources LLP, and Shiv Texchem Limited.
“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 press release.
“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.
The statement added that all “property and interests in property of the designated or blocked persons” that are in the US or in the possession or control of US persons are blocked and must be reported to OFAC.
Any entities owned, directly or indirectly, individually or in the aggregate, 50 per cent or more by one or more blocked persons also stand blocked. (PTI)
