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US Treasury targets five Indian nationals and two Mumbai-based companies as Washington intensifies its campaign against Iran’s oil trade and sanctions-evasion networks
The United States has named five Indian nationals and two Mumbai-based companies in its latest round of Iran-related sanctions, widening a crackdown on networks Washington says help Tehran sustain its oil trade.
The US Treasury Department’s Office of Foreign Assets Control (OFAC) named Harishyam Hariharan Chundakattil, Ketan Manohar Kochikar, Bhupendrasingh Dhalsingh Sahu, Dhwani Nisarg Vora and Nisarg Samir Vora in its October 8 action. The two companies identified in the records are Samudra Marine Services Private Limited and SSPL Solutions Private Limited.
The designations were made under Executive Order 13846, which authorises sanctions targeting Iran’s petroleum sector and other activities. The Treasury’s records link Chundakattil, Kochikar and Sahu to Samudra Marine Services, while Dhwani Vora and Nisarg Vora are linked to SSPL Solutions.
The Treasury’s records list the individuals and their links to the companies but do not specify the role each allegedly played in Iran-related activities.
US steps up pressure on Iran’s oil trade
The action is part of Operation Economic Outcast, a US campaign announced by Treasury Secretary Scott Bessent in August to restrict Iran’s access to revenue and disrupt networks accused of helping Tehran evade sanctions.
Under US sanctions rules, property and interests in property belonging to designated persons that are within the United States or under the control of US persons must generally be blocked and reported to OFAC. US persons are also generally prohibited from conducting transactions involving designated parties unless an exemption or authorisation applies.
More from BusinessThe measures can carry wider implications for international businesses and financial institutions, particularly those conducting transactions involving designated entities or otherwise falling within the scope of US sanctions.
Tankers carrying Iranian petroleum also targeted
The action against the Indian nationals and companies came alongside a separate round of sanctions targeting vessels associated with Iran’s so-called shadow fleet. These tankers are used to transport crude oil, petroleum products and petrochemicals to international markets.
The Treasury identified vessels including the Comoros-flagged Paritosh, the Panama-flagged Bitu and the Bahamas-flagged Gas Lucky.
According to the department, Paritosh transported more than 100,000 barrels of Iranian bitumen or asphalt in 2026, while Bitu transported more than 170,000 barrels of the product during the year. Gas Lucky, a liquefied petroleum gas tanker, had transported more than 500,000 barrels of Iranian ethylene since 2025, the Treasury said.
The US government said the latest measures were intended to cut off revenue used by the Iranian government and disrupt the networks facilitating its oil sales.
