Among the Indians sanctioned, Niti Unmesh Bhatt and his firm, Indisol Marketing Private Limited, were included. The company reportedly imported approximately $74 million worth of Iranian-origin petrochemical products from a U.S.-designated firm between January and December 2024.
Other individuals sanctioned include Piyush Maganlal Javiya of Chemovick Private Limited, which imported over $7 million worth of Iranian petrochemical products from 2024 to 2025. Kamla Kanayalal Kasat, Kunal Kanayalal Kasat, and Poonam Kunal Kasat, owners of Haresh Petrochem Private Limited, imported roughly $10 million worth of Iranian petrochemicals and are now barred under U.S. sanctions.
Shipping and LPG Trade Sanctions
The sanctions also targeted Indian nationals involved in maritime transport of Iranian LPG. Varun Pula owns Bertha Shipping Inc., managing the Comoros-flagged vessel PAMIR, which transported nearly four million barrels of Iranian LPG to China since July 2024. Iyappan Raja’s Evie Lines Inc. operates the Panama-flagged SAPPHIRE GAS, carrying over a million barrels of Iranian LPG to China since April 2025. Additionally, Soniya Shrestha and her Vega Star Ship Management Private Limited managed the Comoros-flagged vessel NEPTA, transporting Iranian LPG to Pakistan since January 2025.
India-Based Entities on OFAC List
Other sanctioned entities include B.K. Sales Corporation, C.J. Shah and Co., Mody Chem, Paarichem Resources LLP, and Shiv Texchem Limited. These firms were reportedly involved in exporting billions of dollars’ worth of petroleum and related products, providing revenue to the Iranian regime.
Implications and Restrictions
The Treasury Department stated that the sanctions aim to dismantle Iran’s energy export network. Secretary of the Treasury Scott Bessent remarked, “The Treasury Department is degrading Iran’s cash flow by dismantling key elements of Iran’s energy export machine.”
All property and interests of the designated persons in the U.S., or under U.S. control, are blocked and must be reported to OFAC. Entities owned 50% or more by sanctioned individuals are also blocked from U.S. transactions.
Sanctioned individuals face restrictions on doing business with American entities and potential limitations on travel to the U.S. The move underscores Washington’s intensified scrutiny on energy trade networks that allegedly fund activities counter to U.S. interests and support groups labeled as terrorist organizations.