Amid ongoing tariff tensions, the US has delivered a major setback to India, imposing bans on several companies and eight individuals

US Sanctions 8 Indians, 10 Firms for Links to Iran’s Oil and Petrochemical Trade

Amid rising global trade tensions, the United States has imposed sweeping sanctions targeting Iran’s oil and petrochemical network — a move that has also ensnared several Indian entities and nationals.

The US State Department and the Treasury jointly announced new sanctions against more than 100 individuals, companies, and vessels for their alleged involvement in Iran’s energy trade. Among those named are eight Indian citizens and ten India-linked companies, accused of facilitating the transport and trade of Iranian oil and petrochemical products in violation of existing US restrictions.

Those listed by the US Treasury’s Office of Foreign Assets Control (OFAC) include Niti Umesh Bhatt, Kamala K. Kasat, Kunal Kasat, and Poonam Kasat of Mumbai, as well as Ayyappan Raja of Tamil Nadu, Varun Pula of Tirupati, Piyush Maganlal Javia, and Sonia Shrestha.

According to US officials, Varun Pula’s company, Bertha Shipping, transported nearly four million barrels of Iranian LPG to China using a Comoros-flagged vessel, while Ayyappan Raja’s Marshall Islands-based firm, Evi Lines, carried one million barrels of LPG to China via a Panama-flagged vessel. Sonia Shrestha’s Vega Star Ships, headquartered in India, allegedly used the Comoros-flagged vessel NEPTA to supply LPG from Iran to Pakistan.

Indian Firms Accused of Large-Scale Imports

The US State Department said that between January 2024 and January 2025, several Indian companies imported petrochemical products from Iran in violation of sanctions.

• CJ Shah & Company reportedly purchased products worth $44 million.
• Chemovic, based in Zavia, imported $7 million worth.
• BK Sales Corp. is accused of importing Iranian goods worth $235 million, while Modi Chem allegedly imported $49 million between January 2024 and February 2025.
• Parichem Resources imported around $2 million worth of petrochemicals, including toluene, from suppliers such as Shivnani Organics FZE, which is already under US sanctions.

Additionally, Indisol, owned by Niti Bhatt, is alleged to have facilitated shipments worth $74 million during 2024, while Haresh Petrochem, linked to the Kasat family, reportedly imported Iranian-origin products worth $10 million over a 13-month period starting in January 2024.

Washington’s Warning

The United States has reiterated that it will continue enforcing sanctions to curb Iran’s oil and petrochemical exports. “America will not spare any country, company, or individual involved in supporting Tehran’s illicit trade,” a US official said, adding that the latest measures are intended to “strengthen the global enforcement of sanctions against Iran and limit its access to revenue from oil and gas sales.”