US sanctions Mumbai firms and five Indians over Iranian oil trade

The United States has imposed sanctions on two Mumbai-based companies and five Indian nationals for their alleged involvement in the trade of petroleum products from Iran. The targeted firms are SSPL Solutions Private Limited and Samudra Marine Services Private Limited.

As part of ‘Operation Economic Outcast’, the US Department of State aims to restrict Iranian revenue by disrupting the global oil market. The sanctions target ten entities in total, including six individuals and five vessels purportedly connected to the trade of Iranian-origin petroleum and petrochemical products. The State Department stated that these entities had reportedly channeled millions of dollars to the Iranian regime.

Specific individuals sanctioned include Dhwani and Nisarg Vora from SSPL Solutions, as well as Ketan Kochikar, Bhupendrasingh Sahu, and Harishyam Hariharan Chundakattil linked to Samudra Marine Services. The US has granted Samudra Marine Services a temporary wind-down period until October 23 to conclude existing business operations.