US targets 27 companies, six individuals and 22 vessels, including Indian firms in fresh Iran sanctions

The Treasury said the operation was designed to isolate the Iranian regime by targeting illicit revenue sources and the networks facilitating the movement of funds.

The United States has announced a fresh round of sanctions targeting 27 companies, six individuals and 22 vessels linked to Iran, as part of economic pressure on Tehran to disrupt its oil trade and alleged sanctions-evasion networks.

The latest sanctions also target two Mumbai-based firms, SSPL Solutions Private Limited and Samudra Marine Services Private Limited, along with five Indian nationals associated with them.
The US Department of State announced the action on Thursday over allegations that the firms facilitated the import of petroleum products from Iran.

According to a US Department of the Treasury press release, Treasury Secretary Scott Bessent said the measures were intended to cut off revenue used by the Iranian regime and target those facilitating its oil sales and efforts to evade sanctions.

“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 said. “No enabler of Iranian sanctions evasion is safe from the full force of the Treasury’s authorities”.

Iran’s shadow fleet targeted

In the sanctions imposed under ‘Operation Economic Outcast', the Treasury said the measures target Iran’s remaining shadow fleet, an ageing network of tankers used to transport petroleum and petroleum products to foreign markets.

The Office of Foreign Assets Control (OFAC) said the designations cover shipping operators, maritime management companies and trading firms operating across several countries, including Turkiye, China, the United Arab Emirates, the United Kingdom and the Marshall Islands.

The sanctioned vessels include tankers carrying crude oil, petroleum products, liquefied petroleum gas, chemicals and bitumen under various national flags, Al Jazeera reported, citing OFAC.

The Treasury said the action effectively neutralises the vast majority of Iran’s remaining shadow fleet, which Tehran relies on to transport billions of dollars’ worth of petroleum and petroleum products.

“Today’s action represents the most significant blow yet to Iran’s remaining illicit maritime infrastructure by neutralising the vast majority of the shadow fleet,” a Treasury official told reporters, as reported by Al Jazeera.

According to the department, the designated vessels have transported millions of barrels of Iranian crude oil, petroleum and petrochemical products to markets in South and East Asia.

Registered under different national flags and operated through international companies, the vessels are allegedly used to conceal the scale of Iran’s shipping network and circumvent sanctions.

The designations were imposed under Executive Order 13902, which targets Iran’s petroleum sector and other key areas of its economy.

State Department announces additional sanctions

The US State Department separately announced sanctions against 10 entities, six individuals and five vessels involved in trading Iranian-origin petroleum or petrochemical products.

“The United States is using every diplomatic and economic tool to sever Iran’s economic lifelines,” State Department spokesman Tommy Pigott said.

Pigott added that the Treasury Department was separately imposing sanctions on 17 entities and vessels belonging to Iran’s so-called shadow fleet as part of the broader economic pressure campaign.

Tankers linked to Iranian oil shipments identified

Among the vessels named in the latest action is the Comoros-flagged tanker PARITOSH, which the Treasury said transported more than 100,000 barrels of Iranian bitumen or asphalt in 2026.

The Panama-flagged BITU was also identified. According to the department, it transported more than 170,000 barrels of Iranian bitumen or asphalt this year.

The Treasury also named STARWAY, a Panama-flagged vessel that it said had transported more than three million barrels of Iranian naphtha since 2025.

Another vessel, GAS LUCKY, a Bahamas-flagged liquefied petroleum gas tanker, had transported more than 500,000 barrels of Iranian ethylene since 2025, the department said.

The Treasury also announced the removal of two vessels, HAKUNA MATATA and PINOCCHIO, from the sanctions list. It said the decision followed a determination that the vessels had left Iran’s shadow fleet and been sold to non-sanctioned or US-aligned operators.

Two Mumbai firms, five Indian nationals face sanctions

The US Department of State on Thursday imposed sanctions on SSPL Solutions Private Limited and Samudra Marine Services Private Limited, both based in Mumbai, along with five Indian nationals associated with the companies.

The action was taken over allegations that the firms were involved in facilitating the import of petroleum products from Iran.

Dhwani and Nisarg Vora, and three persons related to Samudra Marine Services, Ketan Kochikar, Bhupendrasingh Sahu and Harishyam Hariharan Chundakattil have also been blocked from performing any transactions related to their respective firms.

Operation Economic Outcast expands pressure on Tehran

The latest measures form part of Operation Economic Outcast, announced by Bessent on August 24, 2026. The campaign targets Iran’s financial networks, oil sales and channels used to evade sanctions.

The Treasury said the operation was designed to isolate the Iranian regime by targeting illicit revenue sources and the networks facilitating the movement of funds.

It added that the campaign had increased sanctions risks for entities continuing to conduct business with Iran. Those facilitating money laundering or sanctions evasion could be cut off from the US financial system, the department warned.

US warns of penalties for sanctions violations

Under the sanctions, property and interests in property belonging to designated persons that are located in the United States or held by US persons must be blocked and reported to OFAC.

The restrictions also cover entities owned, directly or indirectly, 50 per cent or more by one or more blocked persons, according to the Treasury release.

The department warned that violations could result in civil or criminal penalties for both US and foreign persons. Certain transactions involving designated persons could also expose participating foreign financial institutions to secondary sanctions.

The Treasury said sanctions were intended not only to impose penalties but also to bring about a positive change in behaviour. It warned that it would continue monitoring and disrupting attempts to circumvent the restrictions.

(with ANI inputs)

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