#JustIn: US Sanctions Indian Nationals Linked to Iran Oil Trade
Treasury targets shadowy network fueling Iran's terror cash flow.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has unleashed sanctions on over 50 individuals, entities, and vessels, including Indian nationals, for their roles in smuggling Iranian oil and liquefied petroleum gas (LPG). The action, announced Thursday, targets a sprawling network accused of funneling billions in revenue to Iran, funding terrorist groups threatening US security.
The Treasury’s release exposes a web of illicit trade, including hundreds of millions in LPG sales, nearly two dozen shadow fleet vessels, a China-based crude oil terminal, and an independent refinery. “We’re dismantling Iran’s energy export machine to choke its funding of terrorism,” said Treasury Secretary Scott Bessent, emphasizing the Trump administration’s resolve to disrupt Tehran’s financial lifelines.
Among those sanctioned are Indian nationals Varun Pula, Iyappan Raja, and Soniya Shrestha, targeted under Executive Order 13902 for facilitating Iranian petroleum shipments. Pula owns Bertha Shipping Inc., a Marshall Islands firm operating the Comoros-flagged PAMIR (IMO 9208239), which has shipped nearly four million barrels of Iranian LPG to China since July 2024. Raja’s Evie Lines Inc., also Marshall Islands-based, runs the Panama-flagged SAPPHIRE GAS (IMO 9320738), delivering over one million barrels to China since April 2025. Shrestha’s India-based Vega Star Ship Management Private Limited operates the Comoros-flagged NEPTA (IMO 9013701), smuggling Iranian LPG to Pakistan since January 2025.
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These sanctions freeze all US-held assets of the designated parties and ban American transactions with them unless OFAC authorizes otherwise. Entities owned 50% or more by these individuals are also blocked, with violations risking severe civil or criminal penalties for US and foreign actors alike.
The Treasury notes that sanctions aim to spur behavioral change, offering a delisting process for those who sever ties with Iran’s illicit trade. This aggressive move could jolt global energy markets and signal tougher US enforcement, with ripple effects from India to East Asia.
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