US Sanctions Over 50 Entities, Including Two Indian Nationals, for Aiding Iran’s Energy Exports

 

The United States has imposed sanctions on more than 50 entities and individuals, including two Indian nationals, for allegedly helping Iran evade restrictions on its energy exports. The move, announced by the Treasury Department’s Office of Foreign Assets Control (OFAC), is part of Washington’s ongoing effort to restrict Tehran’s oil and petrochemical trade.

 

OFAC’s Statement on the Sanctions

 

In its official release on Thursday, OFAC stated that those sanctioned “collectively enabled the export of billions of dollars’ worth of petroleum and petroleum products,” providing key financial support to Iran’s government and groups deemed threats to U.S. interests.

 

Treasury Secretary Scott Bessent emphasized that the sanctions are designed to weaken Iran’s revenue streams by dismantling major components of its energy export network. “The Treasury Department is degrading Iran’s cash flow by dismantling key elements of Iran’s energy export machine,” he said.

 

Indian Nationals Among Those Sanctioned

 

Among those targeted are two Indian nationals linked to companies involved in transporting Iranian liquefied petroleum gas (LPG).

 

One of them, Varun Pula, is the owner of Bertha Shipping Inc., a company registered in the Marshall Islands that operates the Comoros-flagged vessel PAMIR. According to U.S. authorities, the vessel has carried nearly four million barrels of Iranian LPG to China since July 2024.

 

The second Indian national, Soniya Shrestha, owns Vega Star Ship Management Private Limited, which manages the Comoros-flagged vessel NEPTA. U.S. officials allege that this ship has been involved in transporting Iranian-origin LPG to Pakistan since January 2025.

 

Assets and Properties Blocked

 

OFAC clarified that all property and interests belonging to the designated individuals and entities within U.S. jurisdiction are blocked. U.S. persons are prohibited from dealing with these sanctioned entities, and any company that is 50 percent or more owned by blocked persons will also be automatically sanctioned.

 

China’s Energy Terminal Among Targets

 

The sanctions also extend to Rizhao Shihua Crude Oil Terminal Co., a major Chinese oil terminal connected to state-run energy giant Sinopec. The facility handles nearly 9% of China’s crude imports, making it a significant hub in Asia’s oil supply chain.

 

According to Bloomberg, this measure is part of a broader crackdown on companies, vessels, and intermediaries accused of facilitating Iran’s sanctioned oil trade. Many of these entities are said to have used “shadow fleets,” offshore terminals, and third-party intermediaries to move Iranian crude and LPG across Asia and the Middle East.

 

Crude Shipments Facing Delays

 

Ship-tracking data indicates that around six million barrels of crude oil are currently anchored off the coast of Rizhao, awaiting offloading. The shipments, arriving on four vessels from Brazil, Russia, Venezuela, and West Africa, demonstrate the terminal’s global reach.