Eight Indians, firms sanctioned by US over $100 million Iranian oil and gas trade links
The US State Department said it is taking these measures to block funds that support Iran’s "malign activity," while the Treasury Department emphasized dismantling critical elements of Tehran’s energy export network.
- Oct 11, 2025,
- Updated Oct 11, 2025 5:39 PM IST
Eight Indian nationals and several India-based firms have been sanctioned by the United States for allegedly facilitating Iran’s energy trade, according to official statements. The sanctions, announced on Thursday, are part of a broader crackdown targeting over 50 individuals, entities, and vessels connected to Iran’s petroleum and liquefied petroleum gas (LPG) exports.
The US State Department said it is taking these measures to block funds that support Iran’s "malign activity," while the Treasury Department emphasized dismantling critical elements of Tehran’s energy export network.
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated the individuals and companies under its Specially Designated Nationals (SDN) and Blocked Persons List. Those listed face asset freezes, a ban on business dealings with US persons, and travel restrictions.
Among those sanctioned:
- Niti Unmesh Bhatt, along with his company Indisol Marketing Private Limited, which imported around $74 million worth of Iranian-origin petrochemicals from a U.S.-designated firm between January and December 2024.
- Piyush Maganlal Javiya and his firm Chemovick Private Limited, which imported over $7 million of Iranian-origin petrochemicals between 2024 and 2025.
- Kamla Kanayalal Kasat, Kunal Kanayalal Kasat, and Poonam Kunal Kasat, whose company Haresh Petrochem Private Limited brought in approximately $10 million worth of Iranian petrochemical products over the same period.
- Varun Pula, owner of Marshall Islands-based Bertha Shipping Inc., and its Comoros-flagged vessel PAMIR, which transported nearly 4 million barrels of Iranian LPG to China since July 2024.
- Iyappan Raja, owner of Evie Lines Inc., and the Panama-flagged SAPPHIRE GAS, which moved over 1 million barrels of Iranian LPG to China since April 2025.
- Soniya Shrestha, and her company Vega Star Ship Management Private Limited, which owns the NEPTA vessel that transported Iranian LPG to Pakistan since January 2025.
Additionally, Indian companies B K Sales Corporation, CJ Shah and Co, Mody Chem, Paarichem Resources LLP, and Shiv Texchem Limited were also listed.
“These actors have collectively enabled the export of billions of dollars’ worth of petroleum and petroleum products,” the Treasury Department said, adding that the revenue supports Iran’s backing of terrorist groups.
“All property and interests in property of the designated or blocked persons that are in the US or in possession of US persons are blocked and must be reported to OFAC,” it added.
Eight Indian nationals and several India-based firms have been sanctioned by the United States for allegedly facilitating Iran’s energy trade, according to official statements. The sanctions, announced on Thursday, are part of a broader crackdown targeting over 50 individuals, entities, and vessels connected to Iran’s petroleum and liquefied petroleum gas (LPG) exports.
The US State Department said it is taking these measures to block funds that support Iran’s "malign activity," while the Treasury Department emphasized dismantling critical elements of Tehran’s energy export network.
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated the individuals and companies under its Specially Designated Nationals (SDN) and Blocked Persons List. Those listed face asset freezes, a ban on business dealings with US persons, and travel restrictions.
Among those sanctioned:
- Niti Unmesh Bhatt, along with his company Indisol Marketing Private Limited, which imported around $74 million worth of Iranian-origin petrochemicals from a U.S.-designated firm between January and December 2024.
- Piyush Maganlal Javiya and his firm Chemovick Private Limited, which imported over $7 million of Iranian-origin petrochemicals between 2024 and 2025.
- Kamla Kanayalal Kasat, Kunal Kanayalal Kasat, and Poonam Kunal Kasat, whose company Haresh Petrochem Private Limited brought in approximately $10 million worth of Iranian petrochemical products over the same period.
- Varun Pula, owner of Marshall Islands-based Bertha Shipping Inc., and its Comoros-flagged vessel PAMIR, which transported nearly 4 million barrels of Iranian LPG to China since July 2024.
- Iyappan Raja, owner of Evie Lines Inc., and the Panama-flagged SAPPHIRE GAS, which moved over 1 million barrels of Iranian LPG to China since April 2025.
- Soniya Shrestha, and her company Vega Star Ship Management Private Limited, which owns the NEPTA vessel that transported Iranian LPG to Pakistan since January 2025.
Additionally, Indian companies B K Sales Corporation, CJ Shah and Co, Mody Chem, Paarichem Resources LLP, and Shiv Texchem Limited were also listed.
“These actors have collectively enabled the export of billions of dollars’ worth of petroleum and petroleum products,” the Treasury Department said, adding that the revenue supports Iran’s backing of terrorist groups.
“All property and interests in property of the designated or blocked persons that are in the US or in possession of US persons are blocked and must be reported to OFAC,” it added.