US Expands Iran Sanctions to Target Indian Shipping Firms Facilitating Oil and LPG Trade
Summary
The US Treasury’s Office of Foreign Assets Control (OFAC) has broadened sanctions on Iran’s energy export network, adding 50 individuals, entities and vessels — including several with links to India. The measures aim to curtail Iran’s petroleum revenue by targeting a so-called “shadow fleet”, ship-to-ship transfer tactics and related terminals and refineries.
Among the named are Bertha Shipping Inc. (linked to Indian national Varun Pula) which owns the Comoros-flagged PAMIR, Evie Lines Inc. (Iyappan Raja) which operates SAPPHIRE GAS, and India-based Vega Star Ship Management Pvt. Ltd. which operates the NEPTA. The sanctions freeze any US-jurisdiction assets of listed parties and bar US persons from doing business with them.
Key Points
- OFAC sanctioned 50 individuals, entities and vessels accused of moving Iranian oil and LPG.
- Sanctioned Indian-linked firms include Bertha Shipping Inc. (PAMIR), Evie Lines Inc. (SAPPHIRE GAS) and Vega Star Ship Management Pvt. Ltd. (NEPTA).
- The action targets Iran’s “shadow fleet” and deceptive tactics such as ship-to-ship transfers in the Persian Gulf and waters near Singapore and Malaysia.
- Sanctions freeze assets in US jurisdiction and prohibit US entities from engaging with designated parties, raising compliance risk for banks, insurers and charterers.
- This follows earlier US measures in July that had already targeted Indian firms trading Iranian petrochemicals, signalling a sustained US pressure campaign.
Context and relevance
The sanctions form part of the US policy to choke off revenue streams Iran uses to fund regional proxies and persist with its wider “maximum pressure” approach. For the logistics and shipping sector, these moves increase scrutiny on vessel ownership structures, chartering practices and trade finance flows — especially for firms operating in Gulf-Asia LPG and crude routes. Indian operators named face reputational, legal and commercial consequences; counterparties and insurers may now reassess exposure and due diligence procedures.
Why should I read this?
Because if you work in shipping, freight, trade finance, insurance or commodity trading — this is the kind of regulatory headache that can hit your P&L and operations fast. Named ships and companies mean immediate compliance checks, possible insurance refusals, and rerouted cargoes. Skipping the detail risks accidentally dealing with a sanctioned network, so take five minutes and get clued up.