US sanctions 8 Indians over oil trade with Iran

Eight Indian nationals and several India-based firms are among the over 50 entities and persons sanctioned by the US for allegedly facilitating Iranian energy trade, according to an official statement.

The State Department imposed sanctions on approximately 40 entities, individuals and vessels to “deny the Iranian regime funds it used to conduct its malign activity”, the department said on Thursday. Those on the list are barred from doing business with Americans and face restrictions on entry to the US. Those sanctioned include Niti Unmesh Bhatt, whose India-based Indisol Marketing Pvt Ltd. was also sanctioned. The petrochemical trading firm imported $74 million worth of Iranian-origin products from a US-designated firm between January and December 2024. Piyush Maganlal Javiya, Kamla Kanayalal Kasat, Kunal Kanayalal Kasat and Poonam Kunal Kasat, Iyappan Raja, Soniya Shrestha and Varun Pula were also on the list.