US Treasury tightens sanctions on Iran’s shadow oil network, Indian firm among those targeted

WASHINGTON: The Donald Trump administration of the US has unveiled a major set of sanctions aimed at dismantling Iran’s extensive shadow oil network, identifying entities and individuals across multiple countries, including an India-based shipping firm and an India-based petroleum products trader, as part of efforts to tighten financial pressure on Tehran’s military operations.

“Today, the Department of State is designating 17 entities, individuals, and vessels to stem the flow of revenue that the Iranian regime uses to advance its nuclear program, and to enable shipping facilitators in multiple jurisdictions who, through obfuscation and deception, load and transport Iranian oil for sale to buyers”, the US Department of State said in a statement.

Concurrently, the Department of the Treasury is designating additional shipping networks involved in illicit oil schemes to help fund the Iranian regime, as well as an airline and its affiliates that supply arms to Iran-backed terrorist groups.

“The Iranian regime continues to fuel conflict in the Middle East to fund its destabilizing activities. This behavior enables Iran to fund its nuclear escalations, support terrorist groups, and disrupt the flow of trade and freedom of navigation in waterways that are crucial to global prosperity and economic growth. The United States will continue to act against the network of maritime service providers, dark fleet operators, and petroleum products traders involved in the transport of Iranian crude oil and petroleum products,” it said.

Treasury drops more sanctions targeting Iran’s oil exports pic.twitter.com/wdyxHMv0Xh

— Elizabeth Hagedorn (@ElizHagedorn) November 20, 2025

Among those sanctioned include TR6 PETRO an India-based petroleum products trader, which between October 2024 and June 2025, imported over $8 million worth of Iranian-origin bitumen from multiple companies..

TR6 PETRO is being designated pursuant to Section 3(a)(ii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran, the US Department of State said.

The designations, issued by the Office of Foreign Assets Control (OFAC), target a web of front companies, shipping handlers and logistical intermediaries that Iranian military-linked bodies have allegedly used to move billions of dollars’ worth of crude.

The US Department of Treasury said these oil revenues have become a crucial financial stream for Iran’s armed forces as they attempt to recover following their defeat in the recent 12-Day War with Israel. Treasury Secretary Scott Bessent stated, “Today’s action continues Treasury’s campaign to cut off funding for the Iranian regime’s development of nuclear weapons and support of terrorist proxies.” Bessent further added that “Disrupting the Iranian regime’s revenue is critical to helping curb its nuclear ambitions.”

Among the entities named in the new round of sanctions is RN Ship Management Private Limited, an India-based operator accused of managing vessels used to transport Iranian crude on behalf of Sepehr Energy Jahan Nama Pars Company (Sepehr Energy Jahan), which is already sanctioned for its ties to Iran’s military. Two Indian nationals associated with the firm, Zair Husain Iqbal Husain Sayed and Zulfikar Hussain Rizvi Sayed, have also been designated.

RN Ship Management is part of a wider group of companies from the UAE, Panama, Germany, Greece and The Gambia that were cited for their alleged involvement in facilitating Iranian military-related oil shipments. OFAC also listed several tankers believed to have moved large quantities of Iranian crude and LPG through covert ship-to-ship transfers, often conducted by vessels that switch off tracking systems or alter documentation to mask cargo origin.

The Treasury said Sepehr Energy Jahan relies on an expansive international network of brokers, buyers and intermediaries to disguise Iranian oil as other grades and move it via a shadow fleet, ensuring continued revenue flows despite longstanding sanctions.

The latest measures also broaden restrictions on Mahan Air, Iran’s largest private airline, and its subsidiary Yazd International Airways Company. Washington accuses the carrier of close coordination with the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), including allegedly transporting personnel and weapons to support Iran-backed groups in Syria and Lebanon.

Several aircraft operated by Mahan Air, including seven Western-manufactured planes obtained through third-party channels, were identified as blocked property. Senior officials involved in procurement and logistics for the airline were also sanctioned.

The Treasury said the new penalties fall under Executive Orders 13224 and 13902, which target supporters of terrorism and entities involved in Iran’s petroleum sector.

OFAC reiterated that the intent of sanctions is “not to punish, but to bring about a positive change in behaviour,” though violations may trigger substantial civil or criminal consequences.

All property belonging to the designated companies and individuals within US jurisdiction have been frozen, and Americans are barred from engaging in any transactions with them. (ANI)