US targets India-based firms, others in latest wave of Iran-linked sanctions

Washington: The United States imposed sanctions on two India-based companies and two individuals as part of what Washington describes as a broader effort to disrupt shipping and financial networks that it alleges are involved in Iran’s illicit petroleum trade.

In the latest action, the State Department on Thursday, designated 17 entities, individuals and vessels across several countries, including India, Panama and Seychelles, that US officials say facilitate the sale and shipment of Iranian oil and petroleum products. The Treasury Department separately designated 41 additional entities, individuals, vessels and aircraft that it claims are tied to Iran’s petroleum and petrochemical exports.

Among those targeted is TR6 Petro India LLP (TR6 Petro), an India-based petroleum products trader. According to the US government, TR6 Petro imported more than $8 million worth of Iranian-origin bitumen between October 2024 and June 2025 from several suppliers. The United States alleges that the company participated in networks that helped Iran move petroleum products in violation of US sanctions.

US officials argue that these networks generate revenue that Tehran uses to support Iran-backed groups and procure weapons systems – claims that Iran has consistently rejected.

The move adds to a series of US sanctions in recent months against multiple companies accused of helping obscure the origin of Iranian petroleum or arrange payments for shipments routed through intermediaries in Asia.

In October, the Treasury Department targeted several India-based logistics and trading firms that it alleged were involved in similar activity.

On November 12, the United States imposed sanctions on 32 individuals and entities, including in India, citing their alleged support for Iran’s missile and UAV programmes.

In a statement, the State Department said, “The United States remains committed to disrupting the illicit funding streams that finance all aspects of Iran’s malign activities. As long as Iran devotes revenue to funding attacks against the United States and our allies, supporting terrorism around the world, and pursuing other destabilising actions, we will use all the tools at our disposal to hold the regime accountable.”

IANS