New Delhi: The United States has imposed sanctions on four Indian companies for their alleged involvement in the trade and transportation of Iranian crude oil and petroleum products. As part of the Trump administration’s "maximum pressure campaign" on Iran, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the US Department of State on Monday announced sanctions on over 30 individuals and vessels across multiple countries, including these four India-based firms.
According to details released by OFAC and the US Department of State, the sanctioned Indian companies include Flux Maritime LLP, based in Navi Mumbai; BSM Marine LLP and Austinship Management Pvt Ltd, both headquartered in the National Capital Region (NCR); and Cosmos Lines Inc, based in Thanjavur. Three of these companies were penalized for allegedly serving as commercial or technical managers of vessels involved in transporting Iranian oil and petroleum products, while Cosmos Lines was sanctioned for its alleged direct involvement in the transport of Iranian petroleum.
Among those targeted are oil brokers operating in the United Arab Emirates (UAE) and Hong Kong, tanker operators and managers in India and China, as well as key figures in Iran’s oil industry. The head of Iran’s National Iranian Oil Company and the Iranian Oil Terminals Company, both accused of financing Iran’s destabilizing activities, were also included in the sanctions list. The sanctioned vessels were reportedly responsible for transporting tens of millions of barrels of crude oil, valued in the hundreds of millions of dollars, according to an OFAC release.
The US Department of State, in a separate statement, emphasized that Iran’s regime continues to pose a threat to global security through its nuclear program, ballistic missile development, and support for terrorist groups. The department accused Iran of relying on a network of illicit shipping facilitators across multiple jurisdictions to disguise and transport oil exports to Asian buyers. As part of the Trump administration’s efforts to curb this revenue stream, the United States has taken action under the "maximum pressure campaign" to limit Iran’s ability to fund these destabilizing activities.
This is not the first time Indian companies have been sanctioned for their alleged involvement in transporting sanctioned energy resources. In October, India-based Gabbaro Ship Services was penalized for its alleged role in transporting Iranian oil. Similarly, in August and September, three India-registered shipping firms were sanctioned by the US for allegedly transporting liquefied natural gas (LNG) from Russia’s Arctic LNG 2 project, which is also under American sanctions.
The term "shadow fleet" refers to vessels engaged in transporting crude oil and petroleum products from sanctioned nations like Russia, Iran, and Venezuela. Due to varying levels of international sanctions, mainstream Western fleet operators largely avoid involvement in these oil trades. Instead, shipping companies from nations like Greece, Russia, and China, as well as tax havens such as the Marshall Islands, Liberia, and Panama, have emerged as dominant players in this sector.
Many of these shadow fleet tankers operate under opaque ownership structures, often registered in jurisdictions with minimal regulatory oversight. These vessels, typically older and operating with substandard insurance and certifications, play a key role in enabling sanctioned nations to sustain their oil and gas exports despite global restrictions.