US sanctions Mumbai companies and 5 Indian nationals over petroleum

World Oct 09, 2026

The US has just sanctioned two Mumbai-based companies, SSPL Solutions and Samudra Marine Services, along with five Indian nationals, for facilitating the import of petroleum products from Iran and for trade in Iranian-origin petroleum, petroleum products, and petrochemical products.

Operation Economic Outcast targets Iranian oil

These sanctions are part of a wider US effort (called Operation Economic Outcast) to cut off one of Iran's most critical revenue streams by targeting its oil trade.

The State Department says the named companies helped funnel large sums to Iran's regime, while the individuals were associated with the firms.

Samudra Marine Services has until October 23, 2026, to wrap up its operations, while the US also hit 17 more entities and ships trying to dodge these rules.