October 10, 2025

Hold on tight as the US Treasury's Office of Foreign Assets Control (OFAC) drops a bombshell! On Thursday, they announced sanctions on more than 50 individuals, companies, and vessels caught helping Iran sell its oil and liquefied petroleum gas (LPG). Guess what? Indian nationals are also under the scanner for trading activities linked to Iran's secret energy deals. According to the US Department of the Treasury, these masterminds helped export billions of dollars worth of petroleum, giving the Iranian regime much-needed cash to back terrorist groups threatening the US. This crackdown hits a vast network moving hundreds of millions of dollars of Iranian LPG. It also targets nearly two dozen secretive 'shadow fleet' vessels, a crude oil terminal based in China, and an independent refinery. Treasury Secretary Scott Bessent boldly stated, "The Treasury Department is degrading Iran's cash flow by dismantling key elements of Iran's energy export machine." He added, "Under President Trump, this administration is disrupting the regime's ability to fund terrorist groups that threaten the United States." Among the Indians caught are Varun Pula, Soniya Shrestha, and Iyappan Raja. All three are sanctioned under Executive Order 13902 for acting, directly or indirectly, for shipping firms moving Iranian petroleum products and LPG. For example, Varun Pula owns Marshall Islands-based Bertha Shipping Inc., which runs the Comoros-flagged vessel PAMIR (IMO 9208239). This ship has hauled nearly four million barrels of Iranian LPG to China since July 2024. Iyappan Raja’s Evie Lines Inc., also in the Marshall Islands, operates the Panama-flagged SAPPHIRE GAS (IMO 9320738). This vessel has transported over a million barrels of Iranian LPG to China since April 2025. Meanwhile, Soniya Shrestha owns India-based Vega Star Ship Management Private Limited, which runs the Comoros-flagged NEPTA (IMO 9013701). This ship has moved Iranian LPG to Pakistan since January 2025. The US Treasury’s measures freeze all property and interests owned by these designated individuals in the US or under US possession or control. Any companies owned 50% or more by these blocked people are also frozen. OFAC's rules block all transactions by US persons or inside the US involving the property of these flagged names unless approved. Beware! Breaking the US sanctions laws can land you in serious trouble with heavy civil or criminal penalties. The Treasury’s ultimate goal? To force a change in behaviour. Those listed can seek removal from the sanctions list by proper legal ways. This saga is a massive slap, mixing politics, money, and global energy trade in a spicy showdown!

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Tags: Us treasury sanctions, Iran oil trade, Indian nationals, Ofac, Petroleum exports, Iran lpg,