The US has imposed sanctions on two Indian companies and two businessmen, accusing them of illegal petroleum trade with Iran. The US has described its action against such alleged illegal trade as a major attempt to disrupt shipping and financial networks. On Thursday, November 20, the US Department of State imposed sanctions on 17 entities, individuals and vessels from several countries, including India, Panama and Seychelles. US officials say that these entities help in the sale and shipment of Iranian oil and petroleum products. Subsequently, the US Treasury Department separately imposed sanctions on 41 more entities, persons, vessels and aircraft that it says are connected to Iran’s petroleum and petrochemical exports.
Ban on two Indian companies and two businessmen
The US has also imposed sanctions on Indian nationals Zaheer Hussain and Zulfikar Hussain as well as their India-based company, RN Ship Management Pvt Ltd (RN Ship Management). The US alleges that this company has been the operator of several ships transporting Iranian oil since the beginning of 2025.
India’s petroleum products trading company TR6 Petro India LLP (TR6 Petro) has also been banned. According to the US government, TR6 Petro imported more than $8 million worth of Iranian bitumen from multiple suppliers between October 2024 and June 2025. The US alleges that the company participated in a network that helped move petroleum products to Iran in violation of US sanctions.
US officials say that these networks generate revenue that the Iranian government uses to fund pro-Iranian groups and buy weapons. However, Iran has consistently denied these claims.
