US Sanctions Indian, Chinese Firms Over Iranian Oil and LPG Shipments

The United States on Thursday imposed sweeping sanctions on a network of individuals, companies, and vessels — including Indian nationals and firms — accused of facilitating the transport of Iranian oil and liquefied petroleum gas (LPG) in violation of U.S. restrictions.

In a statement, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) said it had blacklisted 50 individuals, entities, and ships involved in moving Iranian petroleum products through a global “shadow fleet.” The network allegedly helps Tehran generate billions in revenue used to fund its nuclear and missile programs and support militant proxies across the Middle East.

The sanctioned entities include Indian companies Bertha Shipping Inc., owned by Varun Pula; Evie Lines Inc., led by Iyappan Raja; and Vega Star Ship Management Pvt. Ltd., headed by Soniya Shreshtha. A Chinese independent refinery and terminal were also named.

“Treasury is degrading Iran’s cash flow by dismantling key elements of its energy export apparatus,” said Treasury Secretary Scott Bessent, adding that the action was part of efforts to cut off funds used to finance terrorism.

According to the Treasury, Bertha Shipping Inc., based in the Marshall Islands, owns and manages the Comoros-flagged vessel PAMIR, which has transported nearly 4 million barrels of Iranian LPG to China since July 2024. Evie Lines Inc. operates the Panama-flagged SAPPHIRE GAS, responsible for over 1 million barrels of shipments to China since April 2025, while Vega Star Ship Management Pvt. Ltd. manages the Comoros-flagged NEPTA, which delivered Iranian LPG to Pakistan earlier this year.

The department also listed more than a dozen tankers from Iran’s “shadow fleet” — including the Kongm, Big Mag, and Voy — that have carried millions of barrels of crude to Rizhao, China, according to Reuters.

At a White House Cabinet meeting, President Donald Trump said the U.S. wants to see Iran “rebuild,” but reiterated that Tehran “can’t have a nuclear weapon.”

Iran maintains that its nuclear program is for peaceful purposes, but Washington argues that oil revenues continue to finance destabilizing activities across the region.

“These sanctions underscore our determination to hold Iran accountable,” Bessent said. “Under President Trump, this administration is disrupting the regime’s ability to fund terrorist groups that threaten the United States and our partners.”