The United States has sanctioned two Mumbai-based companies, SSPL Solutions and Samudra Marine Services, along with five Indian nationals, over alleged trade in Iranian petroleum products.

The action is part of Operation Economic Outcast, which Treasury Secretary Scott Bessent has described as an “economic onslaught” against Iran’s financial connections around the world.

The five individuals named are Dhwani Vora and Nisarg Vora of SSPL Solutions, and Ketan Kochikar, Bhupendrasingh Sahu and Harishyam Hariharan Chundakattil of Samudra Marine Services.

This follows an August wave in which four other India-based firms were designated, including Sadashiva Overseas, accused of importing $69 million of Iranian petroleum products.

India stopped importing Iranian oil in 2019 under US pressure but resumed crude imports in April 2026 after a seven-year halt. Bilateral India-Iran trade reached $1.1 billion between April and December 2025.

The sanctions freeze the targets’ US-linked assets and bar Americans from dealing with them.

The designations add to a growing list of India-linked entities caught in the US-Iran standoff. New Delhi has so far not commented on the latest action and is studying its implications for trade.