Washington: The US Treasury Department on Thursday stepped further penalties against Iran’s energy exports. These sanctions affect 50 people, businesses, and ships, including a number of Indian companies. According to Treasury Secretary Scott Bessent, the goal of the move is to hurt Iran’s oil earnings and limit its capacity to support terrorist groups.
Bessent added, “We are hurting Iran’s cash flow by taking apart important parts of its energy export machine.” “This administration is making it harder for the regime to give money to terrorist groups that threaten the United States under President Trump.”
The sanctions target a group that moves Iranian liquefied petroleum gas (LPG) using around two dozen shadow fleet ships, a crude oil terminal in China, and an independent “teapot” refinery. These things are very important for Iran’s oil exports and making money.
Indian companies have been punished.
The US found a number of Indian companies that were helping to move Iranian oil:
Bertha Shipping Inc. (Marshall Islands, owned by Indian national Varun Pula) is the company that manages and owns PAMIR. Since July 2024, PAMIR has shipped around four million barrels of Iranian LPG to China.
Evie Lines Inc. (Marshall Islands, owned by Iyappan Raja) is the owner and operator of SAPPHIRE GAS, which has carried more than a million barrels of Iranian LPG to China since April 2025.
Vega Star Ship Management Pvt Ltd (India, controlled by Soniya Shreshtha) runs NEPTA, which has been shipping Iranian LPG to Pakistan since January 2025.
The Treasury said that Iranian exporters often move goods between shadow fleet ships, often with the use of tugboats in the Persian Gulf and off the coasts of Singapore and Malaysia, to hide where their shipments came from.
In 2025, this is the second round of sanctions targeting Indian companies. The US State Department had already sanctioned six Indian companies in July for trade in Iranian petrochemical exports.
Effects of sanctions
The provisions stop people and firms that have been sanctioned from getting to assets held by the US and stop American businesses and persons from doing business with them. The move also comes after tensions between Israel and Iran rose as the UN put further sanctions on Iran because of its nuclear program.
The rial, Iran’s currency, is at an all-time low, and inflation in basic products is making life worse every day. stepped further penalties against Iran’s energy exports. These sanctions affect 50 people, businesses, and ships, including a number of Indian companies. According to Treasury Secretary Scott Bessent, the goal of the move is to hurt Iran’s oil earnings and limit its capacity to support terrorist groups.
Bessent added, “We are hurting Iran’s cash flow by taking apart important parts of its energy export machine.” “This administration is making it harder for the regime to give money to terrorist groups that threaten the United States under President Trump.”
The sanctions target a group that moves Iranian liquefied petroleum gas (LPG) using around two dozen shadow fleet ships, a crude oil terminal in China, and an independent “teapot” refinery. These things are very important for Iran’s oil exports and making money.
Indian companies have been punished.
The US found a number of Indian companies that were helping to move Iranian oil:
Bertha Shipping Inc. (Marshall Islands, owned by Indian national Varun Pula) is the company that manages and owns PAMIR. Since July 2024, PAMIR has shipped around four million barrels of Iranian LPG to China.
Evie Lines Inc. (Marshall Islands, owned by Iyappan Raja) is the owner and operator of SAPPHIRE GAS, which has carried more than a million barrels of Iranian LPG to China since April 2025.
Vega Star Ship Management Pvt Ltd (India, controlled by Soniya Shreshtha) runs NEPTA, which has been shipping Iranian LPG to Pakistan since January 2025.
The Treasury said that Iranian exporters often move goods between shadow fleet ships, often with the use of tugboats in the Persian Gulf and off the coasts of Singapore and Malaysia, to hide where their shipments came from.
In 2025, this is the second round of sanctions targeting Indian companies. The US State Department had already sanctioned six Indian companies in July for trade in Iranian petrochemical exports.
Effects of sanctions
The provisions stop people and firms that have been sanctioned from getting to assets held by the US and stop American businesses and persons from doing business with them. The move also comes after tensions between Israel and Iran rose as the UN put further sanctions on Iran because of its nuclear program.
The rial, Iran’s currency, is at an all-time low, and inflation in basic products is making life worse every day.