US sanctions two Mumbai firms and five Indian nationals over Iranian petroleum trade

Under Operation Economic Outcast, Washington has targeted Mumbai-based firms accused of facilitating Iranian petroleum imports. See who has been named

PGurus Newsdesk

October 9, 2026

The action is part of Operation Economic Outcast, aimed at Iran’s oil revenue

The State Department says the firms helped bring Iranian petroleum products into India

The US imposed sanctions on Thursday on two Mumbai-based companies and five Indian nationals linked to them, over alleged involvement in trading petroleum products from Iran.

The US Department of State named SSPL Solutions Private Limited and Samudra Marine Services Private Limited, accusing them of facilitating the import of Iranian petroleum products.

Who has been named

Dhwani and Nisarg Vora are the two individuals associated with SSPL Solutions. The three linked to Samudra Marine Services are Ketan Kochikar, Bhupendrasingh Sahu and Harishyam Hariharan Chundakattil. All five are now blocked from carrying out transactions related to their respective firms.

“The Department of State is sanctioning ten entities, six individuals, and five vessels in connection with trade in Iranian-origin petroleum, petroleum products, and petrochemical products,” an official statement said.

“The US government is imposing sanctions on both the buyers and sellers driving this trade in Iranian petrochemical products,” the department said.

At the same time, the US also authorised wind-down transactions by Samudra Marine Services till October 23.

A wind-down of transactions is a temporary, authorised grace period allowing parties to safely finish existing business and exit operations before new sanctions or liquidations take full effect.

Additionally, the Treasury Department also sanctioned 17 entities and their shadow fleet vessels to deprive the Iranian regime of funds.

The action falls under Operation Economic Outcast, the broader US campaign against Iran. It is part of the Trump administration’s push to cut into Iran’s oil revenue. According to the State Department, the companies helped funnel large sums of money to Iran’s regime, while the individuals were associated with the firms.

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