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 Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Real Estate

17 Dec 2025

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

Real Estate

17 Dec 2025

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..