The department targeted networks that have collectively helped Iran export billions of dollars worth of petroleum and related products. It said that these revenues have been used to “support terrorist groups that threaten the United States.”
“This action targets a network moving hundreds of millions of dollars’ worth of Iranian LPG, along with nearly two dozen shadow fleet vessels, a China-based crude oil terminal, and an independent “teapot” refinery, which are key to Iran’s ability to export petroleum and petroleum products to generate significant revenue,” the Treasury Department’s statement read. “The Treasury Department is degrading Iran’s cash flow by dismantling key elements of Iran’s energy export machine,” Scott Bessent, US Secretary of the Treasury, was quoted as saying in the statement.
Read more: India upgrades technical mission in Kabul to Embassy; Afghanistan invites firms to explore mining
Indian nationals sanctioned
Varun Pula – Bertha Shipping Inc
According to the OFAC, Indian national Varun Pula owns the Marshall Islands-based Bertha Shipping Inc, which operated the Comoros-flagged vessel PAMIR.
Since July 2024, PAMIR has transported nearly four million barrels of Iranian liquefied petroleum gas (LNG) to China. Bertha Shipping Inc and its vessel have been identified as blocked property under the new measures.
The Treasury Department stated that Pula is designated for having acted or purported to act for or on behalf of, directly or indirectly, Bertha Shipping Inc.
Soniya Shrestha – Vega Star Ship Management Pvt Ltd
Another Indian national Soniya Shrestha, owns Vega Star Ship Management Private Limited, based in India. The company manages the Comoros-flagged vessel NEPTA which has been involved in transporting Iranian-origin LPG to Pakistan since January 2025, according to the department.OFAC has designated both Shrestha and Vega Star Ship Management for operating in the Iranian petroleum sector, blocking all assets linked to them within US jurisdiction.
Iyappan Raja – Evie Lines Inc
The sanctions list also includes Iyappan Raja, owner of Marshall Islands-based Evie Lines Inc, which operated the Panama-flagged SAPPHIRE GAS. The vessel has reportedly transported over a million barrels of Iranian LPG to China since April 2025.
Read more: Machado takes Nobel: Venezuelan activist honoured for democracy struggle as Trump’s peace bid falls short
Like Pula and Shrestha, Raja has been designated under the Executive Order 13902 for his association with Evie Lines Inc.
Implications of the sanctions
As per the OFAC, all “property and interests in property” of the designated individuals and companies within the US or in possession or control of US persons, are now blocked and must be reported to OFAC.
Any entity owned directly or indirectly, 50% or more by one or more sanctioned persons is also subjected to be blocked, the Treasury department said.
Also, all transactions involving these blocked entities are prohibited for US persons unless authorised by the OFAC.
Violations of these sanctions could result in civil or criminal penalties. The department added that the ultimate goal of sanctions is “not to punish” but to “bring about a change in behaviour.”
