In a major move on July 30, 2025, the United States imposed its biggest set of Iran-related sanctions since 2018. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against more than 50 individuals and entities, as well as over 50 vessels, linked to a global shipping network that helps Iran and Russia export oil and petrochemical products.
Who Is Behind the Network?
At the center of this network is Mohammad Hossein Shamkhani (Hossein), the son of Ali Shamkhani, a senior political advisor to Iran’s Supreme Leader. U.S. officials say Hossein used his father’s political connections to build a massive shipping empire that generates tens of billions of dollars by transporting Iranian and Russian oil around the world.
According to U.S. Treasury Secretary Scott Bessent, “The Shamkhani family’s shipping empire shows how regime elites use their power to get rich and fund dangerous activities.” He also said these 115 sanctions are the largest since the Trump-era “maximum pressure” campaign against Iran.
What Did the US Find?
The U.S. says Hossein’s shipping network controls a large portion of Iran’s crude oil exports. The money earned from these shipments benefits his family and the Iranian government. The Shamkhani family also reportedly uses this wealth to buy foreign passports and luxury properties abroad. These passports help them travel unnoticed and hide their Iranian connections during business deals.
Today’s sanctions were issued under Executive Order 13902, which targets Iran’s oil, gas, and other key sectors. The action is also linked to the U.S. government’s broader national security strategy to limit Iran’s financial power.
US Widens Sanctions to Block Iran’s Oil Trade Across 17 Countries
The latest U.S. sanctions target a wide network involved in helping Iran evade restrictions, including 15 shipping companies, 52 vessels, 12 individuals, and 53 entities across 17 countries, from Panama to Italy to Hong Kong. A U.S. official said these steps will make it much harder for Iran to sell its oil. However, the official added that the move is not expected to cause major disruptions to global oil markets. Since earlier sanctions by the Trump administration, Iran’s oil exports have already dropped from 1.8 million barrels per day to around 1.2 million barrels per day.
Indian Companies Also Sanctioned
Alongside this global crackdown, the U.S. also sanctioned at least six Indian companies for trading with Iran in violation of U.S. rules. These firms are accused of engaging in significant transactions involving Iranian petroleum and petrochemicals between 2024 and early 2025.
Here are the Indian companies named:
Alchemical Solutions Pvt Ltd – Accused of importing $84 million in Iranian petrochemicals in 2024.
Global Industrial Chemicals Ltd – Allegedly bought $51 million in methanol and other petrochemicals.
Jupiter Dye Chem Pvt Ltd – Reportedly imported $49 million in toluene and related products.
Ramniklal S Gosalia & Company – Allegedly purchased $22 million in methanol and toluene.
Persistent Petrochem Pvt Ltd – Said to have imported $14 million worth of methanol.
Kanchan Polymers – Accused of importing $1.3 million in Iranian polyethylene.
Indian Nationals Linked to Shipping Operations
Several Indian nationals have also been named for their roles in managing vessels and companies tied to Hossein’s network.
Jacob Kurian and Anil Kumar Panackal Narayanan Nair are associated with Neo Shipping Inc., based in the Marshall Islands, which owns one of the sanctioned vessels.
Pankaj Nagjibhai Patel, another Indian citizen based in the UAE, has held executive roles in multiple shipping firms connected to Hossein’s network, including Teodor Shipping L.L.C. He is also listed as a director at India-based Shreeji Gems Ltd.
What Do These Sanctions Mean?
Under the sanctions:
All U.S.-based assets of the named companies and individuals are frozen.
American citizens and companies are banned from doing business with them.
Any entity 50% or more owned by a sanctioned company is also blocked.
The sanctions aim to crack down on Iran’s so-called “shadow fleet” — a network of ships and front companies that help Iran secretly export oil and petrochemicals. The U.S. believes the Iranian regime uses oil profits to fund terrorist groups and destabilise the Middle East.
A Global Effort
The latest sanctions also cover companies in Turkey, UAE, China, and Indonesia, reflecting a global network helping Iran evade trade restrictions. This shows a wider effort by the U.S. to limit Iran’s ability to generate revenue from its oil exports.
Can These Firms Appeal?
Yes. The U.S. government says the goal of sanctions is not punishment but to encourage changes in behaviour. The sanctioned Indian companies and individuals can petition for removal from the Specially Designated Nationals (SDN) list. They need to submit their case to the U.S. Treasury’s Office of Foreign Assets Control (OFAC).
India’s Position
India has traditionally had strong trade ties with Iran, especially for oil. However, since 2019, India has significantly cut down on Iranian oil imports due to earlier U.S. sanctions. These new sanctions may affect India’s petrochemical trade and could further strain its diplomatic and economic ties with the United States.
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