WASHINGTON/NEW DELHI, October 11, 2025 (ANI): The United States has escalated its “maximum pressure campaign” against Iran’s energy sector by imposing sanctions on over 50 entities, individuals, and vessels globally, including nine India-based companies and eight Indian nationals. The US Treasury and State Departments allege these actors played a role in facilitating the trade and transport of Iranian oil, liquefied petroleum gas (LPG), and petrochemical products, thereby violating existing US sanctions.
The move, announced on Thursday, aims to degrade Iran’s cash flow and disrupt revenue streams that the US claims are used to fund “terrorist groups.” All property and interests of the designated individuals and entities that are within the US or controlled by US persons are now blocked and must be reported to the Treasury’s Office of Foreign Assets Control (OFAC).
Key Sanctioned Indian Entities and Individuals:
- Nine India-based Companies: The sanctioned firms, primarily chemical and petrochemical trading companies, include Mumbai-based entities like C.J. Shah & Co., Chemovick, Mody Chem, Paarichem Resources, Indisol Marketing, Haresh Petrochem, and Shiv Texchem, as well as Delhi-based BK Sales Corporation. These companies are accused of importing Iranian petrochemicals worth hundreds of millions of dollars.
- Eight Indian Nationals: The sanctioned individuals include directors and owners linked to these firms or to vessels involved in the transport of Iranian energy products.
- Piyush Maganlal Javiya (Chemovick) and Niti Unmesh Bhatt (Indisol Marketing) were sanctioned for their roles in importing Iranian-origin petrochemicals.
- Kamla, Kunal, and Poonam Kasat (Haresh Petrochem) were targeted for their company’s imports.
- Varun Pula, Iyappan Raja, and Soniya Shrestha were designated by OFAC for their alleged links to vessels—including the Comoros-flagged Nepta and the Panama-flagged Sapphire Gas—involved in shipping millions of barrels of Iranian LPG to destinations like China and Pakistan.
US Treasury Secretary Scott Bessent stated that the department is “degrading Iran’s cash flow by dismantling key elements of Iran’s energy export machine,” a measure the administration insists is necessary for national security.
The comprehensive action targets intermediaries and buyers in third countries like India, China, and the UAE, who allegedly help obscure the origin of Iranian petrochemical products. The US government asserts it will continue to take action against the network of terminal operators, port agents, shippers, and service providers involved in this illicit trade.
