US Sanctions Two Mumbai Firms Over Iranian Oil Trade Links

Two Mumbai-based shipping and logistics companies, along with five Indian nationals, now face severe US financial restrictions for allegedly facilitating the illicit transport of Iranian petroleum. The move, part of a broader crackdown on Tehran’s revenue streams, targets entities accused of channeling millions of dollars to the Iranian regime.

Editorial·October 9, 2026·reads: 1,193

US Sanctions Two Mumbai Firms Over Iranian Oil Trade Links

The US Department of State identified the sanctioned companies as SSPL Solutions Private Limited and Samudra Marine Services Private Limited. Officials named Dhwani and Nisarg Vora from SSPL, alongside Ketan Kochikar, Bhupendrasingh Sahu, and Harishyam Hariharan Chundakattil from Samudra Marine, as the individuals now blocked from all transactions related to their firms.

Washington’s action falls under Operation Economic Outcast, which seeks to dismantle networks supporting Iran’s petrochemical exports. Treasury Secretary Scott Bessent stated that these measures aim to deprive the Iranian government of funding used to wage regional conflicts. While the sanctions are immediate, the US Treasury has authorized a wind-down period for Samudra Marine Services, allowing the firm to conclude existing business operations until October 23. Beyond these specific Indian entities, the Treasury Department simultaneously sanctioned 17 additional global organizations and their associated shadow fleet vessels to further tighten pressure on Iranian oil sales.