US Sanctions 2 Mumbai Firms, 5 Indians Over Alleged Iranian Oil Trade

The United States announced sanctions against two Mumbai-based companies and five Indian nationals on Thursday, accusing them of allegedly facilitating the trade of Iranian petroleum products. This move is part of Washington's effort to curb revenue generated through Iran's oil exports and associated shipping networks. SSPL Solutions Private Limited and Samudra Marine Services Private Limited were among the companies targeted, with Dhwani Vora, Nisarg Vora, Ketan Kochikar, Bhupendrasingh Sahu, and Harishyam Hariharan Chundakattil identified as individuals linked to the firms.

The sanctions prohibit any transactions involving the sanctioned entities and individuals, subject to appropriate authorizations. This action is part of the broader US campaign known as Operation Economic Outcast, which targets networks believed to be involved in the oil trade with Iran. Meanwhile, the US Treasury Department also imposed sanctions on 17 entities and vessels allegedly connected to Iran's shadow fleet, aiming to disrupt the shipping of Iranian oil and related products.

Treasury Secretary Scott Bessent emphasized that the US administration remains committed to targeting networks that enable Iranian petroleum exports and warned that individuals or organizations aiding Iran in evading sanctions could face additional action.