The U.S. Department of State announced on Thursday that SSPL Solutions Private Limited and Samudra Marine Services Private Limited, two Mumbai‑based companies, would be added to its sanctions list. The move also targets five Indian nationals—Dhwani Vora, Nisarg Vora, Ketan Kochikar, Bhupendrasingh Sahu, and Harishyam Hariharan Chundakattil—who are alleged to have facilitated the import of petroleum products from Iran.
This action is part of the Department’s broader "Operation Economic Outcast" campaign against Iran. By sanctioning these entities, Washington alleges that the firms channeled millions of dollars to Tehran, thereby sustaining one of the Iranian regime’s most vital revenue streams. The Department said it is sanctioning ten entities, six individuals, and five vessels involved in Iranian-origin petroleum trade.
Simultaneously, the Treasury Department broadened its pressure by sanctioning 17 entities and their associated shadow‑fleet vessels. Treasury Secretary Scott Bessent said, "No enabler of Iranian sanctions evasion is safe from the full force of Treasury's authorities." A Treasury official described the move as the "most significant blow yet to Iran’s remaining illicit maritime infrastructure," noting the operation is aimed at cutting the regime’s funding for war, missile construction, cyberattacks and the IRGC.
The sanctions include a wind‑down period through October 23, giving companies time to settle existing transactions and exit operations before full enforcement takes effect. This deadline is intended to prevent abrupt disruptions while ensuring that any remaining trade is halted completely.
The measures come after the U.S. reimposed its blockade of Iranian ports on July 14, following the collapse of a memorandum of understanding. A Treasury official noted that about 20 million barrels of crude oil remain on vessels outside the blockade, a significant portion of the 100 million barrels consumed daily worldwide. The combined U.S. actions are expected to shrink Iran’s oil‑derived revenue and signal continued pressure in the coming months.