Two Mumbai-based firms, five Indian nationals face U.S. sanctions over Iran oil trade
The U.S. Department of State has sanctioned two Mumbai-based firms and five Indian nationals for their alleged involvement in facilitating the trade of Iranian petroleum products. This action is part of a broader U.S. effort to disrupt Iran's revenue streams through Operation Economic Outcast.
Why it matters
These sanctions highlight the ongoing geopolitical tension between the U.S. and Iran and the secondary impact on Indian businesses involved in international energy trade.
The U.S. on Thursday (October 8, 2026) imposed sanctions on two Mumbai-based firms and five Indian nationals associated with them over allegations of being involved in the trade of petroleum products from Iran.
The U.S. Department of State action targeted SSPL Solutions Private Limited and Samudra Marine Services Private Limited for facilitating the import of petroleum products from Iran.
Two persons associated with SSPL Solutions — Dhwani and Nisarg Vora, and three persons related to Samudra Marine Services — Ketan Kochikar, Bhupendrasingh Sahu and Harishyam Hariharan Chundakattil have also been blocked from performing any transactions related to their respective firms.
The action against the Indian entities and individuals is part of the U.S. crackdown against Iran under Operation Economic Outcast.
“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.
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