US Treasury Sanctions Over 50 Entities Including Indian Nationals for Iranian Oil Trade Violations

Treasury Secretary Scott Bessent has emphasized that the Trump Administration is actively working to disrupt Iran's funding channels for terrorist organizations.

Washington:

On Thursday, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) imposed sanctions on more than 50 individuals, entities, and vessels involved in facilitating Iranian oil and liquefied petroleum gas (LPG) sales and shipments. Among those sanctioned were Indian nationals engaged in trading activities connected to Iran's energy sector.

The US Department of the Treasury released a statement indicating that these sanctioned actors have collectively enabled the export of billions of dollars' worth of petroleum and petroleum products, providing substantial revenue to the Iranian regime and its support for terrorist groups that pose threats to the United States. The sanctions specifically target a network responsible for moving hundreds of millions of dollars' worth of Iranian LPG, along with nearly two dozen shadow fleet vessels, a China-based crude oil terminal, and an independent refinery.

"The Treasury Department is degrading Iran's cash flow by dismantling key elements of Iran's energy export machine," Treasury Secretary Scott Bessent stated. "Under President Trump, this administration is disrupting the regime's ability to fund terrorist groups that threaten the United States."

According to the Treasury Department's release, Indian nationals Varun Pula, Soniya Shrestha, and Iyappan Raja have been sanctioned under Executive Order 13902 for acting, directly or indirectly, on behalf of shipping firms involved in transporting Iranian petroleum products and LPG.

The release detailed that Varun Pula owns Marshall Islands-based Bertha Shipping Inc., which operates the Comoros-flagged vessel PAMIR (IMO 9208239) that has transported nearly four million barrels of Iranian LPG to China since July 2024.

Iyappan Raja owns Evie Lines Inc., also based in the Marshall Islands, which operates the Panama-flagged SAPPHIRE GAS (IMO 9320738). This vessel has transported over a million barrels of Iranian LPG to China since April 2025, according to the release.

The Treasury Department noted that Soniya Shrestha owns India-based Vega Star Ship Management Private Limited, which operates the Comoros-flagged NEPTA (IMO 9013701). This vessel has been transporting Iranian-origin LPG to Pakistan since January 2025.

The US Department of the Treasury stated that these sanctions freeze all property and interests in property of the designated persons that are within the United States or under the possession or control of US persons. Additionally, any entities that are owned 50 percent or more by one or more blocked persons are also blocked.

According to the release, OFAC's regulations prohibit all transactions by US persons or within the United States that involve any property or interests in property of blocked persons unless specifically authorized. Violations of US sanctions may result in civil or criminal penalties for both US and foreign persons.

The Treasury Department further clarified that the ultimate goal of these sanctions is to bring about positive behavioral changes, and individuals or entities that have been designated may seek removal from the sanctions list by following established legal procedures.