Highlights:
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US Treasury sanctions over 50 entities for aiding Iran’s oil and LPG exports.
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Three Indian nationals—Varun Pula, Soniya Shrestha, and Iyappan Raja—are sanctioned.
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Sanctions freeze assets and block US transactions with designated parties.
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Measures target shadow fleet vessels, refineries, and terminals supporting Iran.
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The US Treasury has imposed sanctions on more than 50 individuals, companies, and vessels for facilitating Iran’s oil and liquefied petroleum gas (LPG) exports. The sanctions target a global network accused of generating billions of dollars in revenue for Tehran and its affiliated groups, including organizations linked to terrorism.
US Targets Iran’s Oil and LPG Export Network
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced the sanctions on October 9. The measures apply to individuals, firms, and ships alleged to have supported Iran in exporting petroleum and LPG, a major source of funding for the Iranian regime.
Treasury Secretary Scott Bessent said the sanctions reflect the administration’s efforts to “degrading Iran’s cash flow by dismantling key elements of its energy export machine,” adding that the US is actively disrupting Tehran’s ability to finance groups that threaten US security.
The sanctions are part of a broader US strategy to pressure Iran to change its behavior and reduce funding for regional proxies.
Indian Nationals Sanctioned by the US
Among those sanctioned, three Indian nationals—Varun Pula, Soniya Shrestha, and Iyappan Raja—were identified for transporting Iranian petroleum products. They have been designated under Executive Order 13902 for acting directly or indirectly on behalf of shipping firms involved in moving Iranian oil and LPG.
- Varun Pula, owner of Bertha Shipping Inc. (Marshall Islands), operates the Comoros-flagged vessel PAMIR (IMO 9208239), which transported nearly four million barrels of Iranian LPG to China since July 2024.
- Iyappan Raja, owner of Evie Lines Inc. (Marshall Islands), operates the Panama-flagged vessel SAPPHIRE GAS (IMO 9320738), which carried over a million barrels of Iranian LPG to China since April 2025.
- Soniya Shrestha, owner of Vega Star Ship Management Pvt. Ltd. (India), operates the Comoros-flagged vessel NEPTA (IMO 9013701), transporting Iranian LPG to Pakistan since January 2025.
The US sanctions freeze all property and interests in property of the designated individuals and entities within the United States or under US jurisdiction. Any company owned 50 percent or more by one or more sanctioned persons is automatically considered a blocked entity. US persons and institutions are prohibited from engaging in transactions with these designated parties unless specifically authorized by OFAC. Violations may result in civil or criminal penalties for both US and foreign actors.
US Action Targets Shadow Fleet and Refineries
The US Treasury statement also noted that the sanctions cover nearly two dozen “shadow fleet” vessels, a China-based crude oil terminal, and an independent refinery involved in laundering Iranian energy exports. The US action is aimed at cutting off financial support for Iran-backed militant groups and limiting Tehran’s capacity to fund destabilizing activities in the Middle East.
By including shadow fleets and offshore refineries, the US seeks to disrupt hidden channels used by Iran to evade international sanctions. Officials emphasized that these measures are designed to reduce Iran’s ability to generate revenue from energy exports that could be used to fund terror-linked operations.
US Process for Removal From Sanctions
OFAC clarified that individuals or entities sanctioned under these measures may request removal from the US sanctions list through established legal procedures. Removal is possible if the party demonstrates a verifiable change in conduct or compliance with US law. This ensures that sanctions remain targeted while allowing lawful actors to regain access to the global financial system if they comply with regulations.
US Strategy and International Implications
The latest sanctions underscore the US commitment to using economic tools to counter Iran’s energy network. By targeting vessels, shipping companies, and refineries involved in transporting Iranian petroleum and LPG, the US aims to apply pressure on Tehran while minimizing impact on unrelated international trade.
The US sanctions also send a warning to other countries and entities involved in facilitating Iranian oil exports. Compliance with US regulations is critical, as violations may result in severe penalties, including asset freezes and restrictions on transactions with US institutions.
The move is part of a broader US strategy to maintain regional stability, limit funding for militant groups, and ensure that Iranian energy exports do not finance activities that threaten US interests or allies.
