The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury announced sanctions on over 50 individuals, entities, and vessels involved in enabling sales and shipments of Iranian oil and liquefied petroleum gas (LPG), including Indian nationals associated with trading in Iran's energy sector.

The US Treasury states that the sanctioned individuals have facilitated the export of petroleum and petroleum products worth billions of dollars, generating crucial revenue for the Iranian government.

The operation focuses on a network engaged in transporting hundreds of millions of dollars in Iranian LPG, as well as almost twenty ships, a crude oil terminal located in China, and a refinery.

“Treasury is undermining Iran's cash flow by dismantling critical components of its energy export infrastructure,” stated Treasury Secretary Scott Bessent.

Indian citizens Varun Pula, Soniya Shrestha, and Iyappan Raja were penalized under Executive Order 13902 for directly or indirectly representing shipping companies engaged in moving Iranian oil and LPG.

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Varun Pula is the owner of Bertha Shipping Inc., located in the Marshall Islands, which operates the Comoros-flagged ship PAMIR that has delivered almost four million barrels of Iranian LPG to China since July 2024.

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Iyappan Raja is the owner of Evie Lines Inc., which manages the Panama-flagged SAPPHIRE GAS that has transported more than a million barrels of Iranian LPG to China since April 2025. Soniya Shrestha is the owner of Vega Star Ship Management Pvt. Ltd., based in India, which manages the Comoros-flagged NEPTA that has been delivering Iranian-origin LPG to Pakistan since January 2025.

All assets and interests in assets of the specified individuals within the United States or under US jurisdiction are frozen. OFAC rules forbid any dealings with these individuals or entities unless explicitly permitted, with infractions facing civil or criminal consequences.

 

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The Treasury Department stated that the sanctions are intended to encourage behavioral change, and designated entities may pursue removal via standard legal processes.