Eight Indian nationals and several India-based firms are among the over 50 entities and persons sanctioned by the US for allegedly facilitating Iranian energy trade, according to an official statement. The US State Department imposed sanctions on approximately 40 entities, individuals and vessels to “deny the Iranian regime funds it uses to conduct its malign activity,” the department stated Thursday.
While the department of the Treasury’s Office of Foreign Assets Control (OFAC) concurrently imposed sanctions on over 50 entities, persons and vessels involved in exporting Iranian petroleum and liquefied petroleum gas (LPG) to global markets. The lists released by the two departments included eight Indian nationals, who were added to Washington’s list of “Specially Designated Nationals (SDN) and Blocked Persons”.
Those sanctioned include Niti Unmesh Bhatt, whose India-based Indisol Marketing Private Ltd was also sanctioned. The company imported approximately $74 million worth of Iranian-origin petrochemical products from a US-designated firm between January and December 2024.
