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The US Treasury Department has expanded its "maximum pressure" campaign against Iran, announcing sanctions against three Indian nationals and their associated maritime companies. These companies are accused of actively facilitating the illicit sale and shipment of Iranian oil and liquefied petroleum gas (LPG), funnelling billions of dollars to Iran’s government.
The designated Indians, Varun Pula, Soniya Shrestha, and Iyappan Raja, are part of a new sanctions package that targets over 50 individuals, companies, and vessels globally, all implicated in the trade of Iranian oil, petroleum products, and petrochemicals. This move, executed by the Trump administration, aims to dismantle critical elements of Iran’s energy export infrastructure.
According to a statement from the US State Department, approximately 40 other entities were also hit, including "some of the largest buyers of Iranian petrochemical products by volume and value, as well as the leadership of the companies involved in that trade."
US Treasury Secretary Scott Bessent, in a statement announcing the sanctions on Thursday, declared, "The Treasury Department is degrading Iran’s cash flow by dismantling key elements of Iran’s energy export machine."
Specifically, three firms connected to the Indian nationals, Bertha Shipping Inc., Evie Lines Inc., and Vega Star Ship Management Private Limited, have been identified by the State Department as transporters of US-sanctioned Iranian-origin petrochemicals. Varun Pula, Iyappan Raja, and Soniya Shrestha were named as the beneficial owners of these companies, involved in moving millions of barrels of Iranian-origin LPG to key markets in China, Pakistan, and Bangladesh.
US State Department Principal Deputy Spokesperson Tommy Pigott reiterated the administration's resolve, saying, "So long as Iran attempts to generate oil revenues to fund its subversive activities, the United States will act to counter and to promote accountability for Iran and its partners in sanctions evasion."
This fresh wave of sanctions comes less than two weeks after the UN announced its "snapback" sanctions against Iran over its nuclear and ballistic missile programs, collectively deepening Tehran’s international isolation.
