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US action: The US State Department and the Treasury Department, while taking this step, said that its purpose is to stop financial assistance to Iran’s business activities.
US action: The US has imposed sanctions on more than 50 individuals and entities, including eight Indian nationals and several India-based companies, on charges of facilitating Iranian energy trade. Taking this step, the US State Department and the Treasury Department said that its purpose is to stop financial support to Iran’s business activities. The people included in the banned list have been specially classified. Now these persons cannot do any business with American citizens and they will not be allowed to enter America. The Treasury Department’s Office of Foreign Assets Control (OFAC) has taken this action to prevent illegal trading of Iranian petroleum and LPG in global markets. America says that these steps are necessary to implement international sanctions and put pressure on the Iranian regime. Those banned also include Neeti Unmesh Bhatt, whose India-based Indisol Marketing Private Limited has also been banned.
Iran’s energy trade targeted
Bhatt’s petrochemical trading company imported Iranian-origin petrochemical products worth about USD 74 million from a US-designated firm between January and December 2024. It imported petrochemical products of Iranian origin worth more than US$7 million from a US-designated firm between 2024 and 2025. Kamla Kanyalal Cassatt, Kunal Kanyalal Cassatt and Poonam Kunal Cassatt were also on the list. His company Haresh Petrochem Private Limited imported petrochemical products of Iranian origin worth approximately USD 10 million from several companies between January 2024 and February 2025. Along with all three, restrictions were also imposed on their company. The list also includes Varun Pulla, owner of Marshall Islands-based Bertha Shipping Inc. The vessel has transported approximately four million barrels of Iranian LPG to China since July 2024. The company was also in the list. Another Indian national banned was Iyappan Raja, who owns Marshall Islands-based AV Lines Inc. They have delivered more than 1 million barrels of Iranian LPG to China since April 2025.
Iran’s revenue is a threat to America
AV Lines Inc. was also in the list of banned entities. Sonia Shrestha, owner of Vega Star Ship Management Private Limited, and her company were also banned. It owns and operates the Comoros-flagged ship, NEPTA, which has delivered Iranian LPG to Pakistan since January 2025. Other India-based entities included in OFAC’s SDN list include BK Sales Corporation, CJ Shah & Company, Modi Chem, Parikem Resources LLP and Shiv TexChem Ltd. The Treasury Department said in a press release that these entities collectively enabled the export of petroleum and petroleum products worth billions of dollars, providing significant revenues to the Iranian regime and support to terrorist groups that pose a threat to the United States. Finance Ministry Secretary Scott Besant said that the Finance Ministry aims to hurt Iran’s economy by destroying key elements of Iran’s energy export system.
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