US Sanctions Two Indians for Aiding Iran Oil Exports

13 Oct 2025 CW Team

Announced on Thursday by the US Treasury Department’s Office of Foreign Assets Control (OFAC), the sanctions target actors accused of enabling Iran to export billions of dollars’ worth of petroleum and related products. According to the US government, the proceeds from these exports are used to fund terrorist groups and pose a threat to American national security.

“These actors have collectively enabled the export of billions of dollars’ worth of petroleum and petroleum products, providing critical revenue to the Iranian regime and its support for terrorist groups that threaten the United States,” the Treasury Department said in a statement.

The move forms part of the US administration’s continuing strategy to disrupt Iran’s financial networks and restrict revenue streams from its oil trade. Treasury Secretary Scott Bessent said the department was “degrading Iran’s cash flow by dismantling key elements of its energy export machine.”

Among those sanctioned are Indian nationals Varun Pula and Soniya Shrestha. According to the Treasury’s statement, Varun Pula owns Bertha Shipping Inc., registered in the Marshall Islands, which operates the Comoros-flagged vessel PAMIR. The ship is alleged to have transported nearly four million barrels of Iranian liquefied petroleum gas (LPG) to China since July 2024.

The other Indian national, Soniya Shrestha, owns Vega Star Ship Management Pvt Ltd, which operates the Comoros-flagged vessel NEPTA. The vessel is accused of carrying Iranian-origin LPG to Pakistan since January 2025.

Following the sanctions, all property and interests in property belonging to the designated individuals and entities within the United States — or in the possession or control of US persons — are blocked and must be reported to OFAC. Additionally, any company that is 50 per cent or more owned by a sanctioned individual or entity will also be subject to restrictions.

The United States has imposed sanctions on more than 50 entities, individuals, and vessels, including two Indian nationals, for allegedly helping Iran export oil and petrochemical products in violation of international restrictions. The action is part of Washington’s wider effort to dismantle Iran’s energy export network. Announced on Thursday by the US Treasury Department’s Office of Foreign Assets Control (OFAC), the sanctions target actors accused of enabling Iran to export billions of dollars’ worth of petroleum and related products. According to the US government, the proceeds from these exports are used to fund terrorist groups and pose a threat to American national security. “These actors have collectively enabled the export of billions of dollars’ worth of petroleum and petroleum products, providing critical revenue to the Iranian regime and its support for terrorist groups that threaten the United States,” the Treasury Department said in a statement. The move forms part of the US administration’s continuing strategy to disrupt Iran’s financial networks and restrict revenue streams from its oil trade. Treasury Secretary Scott Bessent said the department was “degrading Iran’s cash flow by dismantling key elements of its energy export machine.” Among those sanctioned are Indian nationals Varun Pula and Soniya Shrestha. According to the Treasury’s statement, Varun Pula owns Bertha Shipping Inc., registered in the Marshall Islands, which operates the Comoros-flagged vessel PAMIR. The ship is alleged to have transported nearly four million barrels of Iranian liquefied petroleum gas (LPG) to China since July 2024. The other Indian national, Soniya Shrestha, owns Vega Star Ship Management Pvt Ltd, which operates the Comoros-flagged vessel NEPTA. The vessel is accused of carrying Iranian-origin LPG to Pakistan since January 2025. Following the sanctions, all property and interests in property belonging to the designated individuals and entities within the United States — or in the possession or control of US persons — are blocked and must be reported to OFAC. Additionally, any company that is 50 per cent or more owned by a sanctioned individual or entity will also be subject to restrictions.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Infrastructure Urban

06 Feb 2026

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Infrastructure Urban

06 Feb 2026

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..