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4h ago

U.S. Unveils New Iran Oil Sanctions, Hitting Shadow Fleet, Chinese Terminal and Refinery

The move seeks to choke off Tehran’s energy revenue as part of a renewed maximum‑pressure push following the U.N. snapback.

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)
Indian nationals among over 50 entities sanctioned by US for aiding Iran’s energy trade
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Overview

  • OFAC designated roughly 50 individuals, companies and vessels tied to Iranian oil and LPG shipments, triggering asset freezes and a ban on U.S. dealings.
  • Nearly two dozen shadow‑fleet tankers were listed alongside China’s Shandong Jincheng Petrochemical and the Rizhao Shihua crude terminal, which received millions of barrels.
  • The State Department issued additional listings that media tallied with Treasury’s actions at about 100 total targets, including Jiangyin Foreversun Chemical Logistics.
  • Indian-linked operators Varun Pula (Bertha Shipping/PAMIR), Iyappan Raja (Evie Lines/SAPPHIRE GAS) and Soniya Shrestha (Vega Star/NEPTA) were cited for moving Iranian LPG to China and Pakistan.
  • Treasury Secretary Scott Bessent said the step aims to degrade Iran’s cash flow, noting earlier rounds this year have already sanctioned more than 160 ships connected to the trade.