Washington: Escalating its economic pressure on Tehran, the United States has imposed strict sanctions on two Mumbai-based companies and five Indian nationals for their alleged involvement in the illicit trade of Iranian petroleum and petrochemical products. The sweeping enforcement action is part of Washington’s broader crackdown on Iran’s revenue networks, internally dubbed “Operation Economic Outcast”.
The US Department of State identified the targeted Indian entities as SSPL Solutions Private Limited and Samudra Marine Services Private Limited. Both firms have been accused of facilitating the import and maritime transport of petroleum products originating from Iran, directly violating standing US embargoes.
Alongside the corporate entities, Washington has also blocked five Indian citizens associated with these firms from executing financial transactions. Dhwani Vora and Nisarg Vora, linked to SSPL Solutions, were sanctioned, while Ketan Kochikar, Bhupendrasingh Sahu, and Harishyam Hariharan Chundakattil were designated for their operational and logistical roles at Samudra Marine Services.
According to an official statement from the State Department, the targeted entities allegedly channelled millions of dollars to the Iranian government. “The US government is imposing sanctions on both the buyers and sellers driving this trade in Iranian petrochemical products,” the department stated, asserting that these financial streams significantly strengthen the regime and enable its continued illicit conduct.
While immediate financial restrictions apply across transaction channels, the US has authorised a temporary wind-down period for Samudra Marine Services. Third parties and stakeholders have been granted a grace period until October 23 to legally conclude pending business and exit operations before the full force of the sanctions takes effect.
Separately, the US Treasury Department expanded the net by sanctioning 17 additional entities globally, alongside their “shadow fleet” vessels, which discreetly transport Iranian oil to foreign buyers.
Commenting on the coordinated strike against Iran’s remaining illicit maritime infrastructure, US Treasury Secretary Scott Bessent emphasised the administration’s uncompromising stance. “Treasury is starving the tyrannical regime in Tehran of the money it uses to wage war in the region, and we will continue exposing those who enable the regime’s oil sales,” Bessent stated. He further warned that no enabler of sanctions evasion would be immune from the Treasury’s authorities.
The strategic crackdown comes amid heightened geopolitical tensions in the Middle East, with Washington aggressively attempting to sever the financial lifelines supporting Iran’s military and regional activities.