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5h ago

U.S. Expands Iran Oil Sanctions, Hitting Shadow Fleet, Chinese Sites, India-Linked Shippers

The action seeks to choke off Iranian energy revenue that Washington says funds nuclear, missile or proxy activity.

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023.  REUTERS/Kevin Lamarque
FILE - The Treasury Department building is seen, March 13, 2025, in Washington. (AP Photo/Alex Brandon, File)
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Indian nationals among over 50 entities sanctioned by US for aiding Iran’s energy trade

Overview

  • OFAC designated roughly 50 people, companies and vessels tied to Iranian oil and LPG exports, including nearly two dozen shadow‑fleet tankers.
  • The State Department announced nearly 40 additional designations, bringing the coordinated slate reported by outlets to about 100 targets across the trade network.
  • Named Chinese actors include Shandong Jincheng Petrochemical Group, the Rizhao Shihua crude terminal at Lanshan Port, and Jiangyin Foreversun Chemical Logistics.
  • Indian links cited by U.S. officials include nationals Varun Pula, Iyappan Raja and Soniya Shrestha tied to the PAMIR, SAPPHIRE GAS and NEPTA, alongside nine India-based firms and eight Indian nationals flagged for petrochemical trade.
  • The measures block U.S.-held property and bar U.S. persons from transactions with listed parties as part of the administration’s latest maximum pressure round following the U.N. sanctions snapback.