US sanctions Indian firm along with other global entities involved in Iran oil trade

The United States has announced fresh sanctions aimed at dismantling Iran’s shadow oil network, targeting companies, shipping networks and individuals across multiple countries, including India, as part of efforts to cut off funding for Tehran’s military and nuclear programs. The measures, led by the US Departments of State and Treasury, focus on entities accused of moving Iranian crude through covert shipping practices and complex financial arrangements.

Among the Indian entities named are TR6 Petro, a petroleum products trading company accused of importing over eight million dollars’ worth of Iranian-origin bitumen between October 2024 and June 2025, and RN Ship Management Private Limited, a vessel operator alleged to have managed ships transporting Iranian crude on behalf of a sanctioned Iranian military-linked company. Two Indian nationals connected to RN Ship Management, Zair Husain Iqbal Husain Sayed and Zulfikar Hussain Rizvi Sayed, were also sanctioned under US counter-terrorism and Iran-related executive orders.

While these sanctions carry serious legal and operational consequences, India’s current oil trade with Iran is almost negligible, accounting for less than 0.1% of its total imports. Even so, US authorities warned that global banks and financial institutions are likely to block transactions linked to the sanctioned firms, making international payments, trade finance and insurance difficult. Shipping companies, port operators and insurers are also expected to avoid dealing with sanctioned vessels, which could disrupt operations and raise costs for affected firms.

The US government also expanded restrictions on Mahan Air and its subsidiary Yazd International Airways Company, accusing the airline of supporting Iran-backed groups in Syria and Lebanon by transporting personnel and weapons. Several aircraft were declared blocked property, and senior airline officials were sanctioned.

Treasury Secretary Scott Bessent said the action is part of a broader campaign to cut off funding for Iran’s nuclear ambitions and militant proxies. US officials said the goal is to pressure Tehran by choking off oil revenues, while warning that companies worldwide could face secondary sanctions if they continue to engage with the sanctioned network, even if the trade volumes involved are small.