Thu Jul 31 04:49:16 UTC 2025: Here’s a summary and news article based on the provided text:

**Summary:**

The U.S. Treasury Department has announced a new round of sanctions targeting individuals and companies, including several Indian nationals and businesses, for their alleged involvement in a vast maritime oil smuggling operation benefiting Iran. The sanctions are the largest Iran-related package since 2018 and aim to dismantle the network by targeting individuals and entities across multiple countries, including those based in the UAE and India. The implicated Indian parties are accused of facilitating oil transport logistics and concealing the origin of Iranian oil. The sanctions block their assets under U.S. jurisdiction and prohibit U.S. citizens from engaging in transactions with them, while also exposing non-U.S. firms to secondary sanctions for continued dealings. This action serves as a stern warning to Indian businesses involved in global shipping and logistics, emphasizing the potential for reputational and financial fallout, even for indirect involvement in sanctionable activities.

**News Article:**

**U.S. Sanctions Indian Nationals, Companies in Crackdown on Iranian Oil Smuggling**

**Washington, D.C. – July 31, 2025** – The United States Treasury Department has announced sweeping new sanctions targeting a vast maritime oil smuggling operation allegedly benefiting Iran, with several Indian nationals and companies named as key enablers. This action, the largest Iran-related sanctions package since 2018, aims to dismantle the illicit network facilitating the transport and sale of Iranian oil, which is currently under strict U.S. sanctions.

The Office of Foreign Assets Control (OFAC) identified over 50 individuals, entities, and vessels across multiple countries, including the UAE and India, as being involved in the scheme.

Among those sanctioned are Indian nationals Pankaj Nagjibhai Patel, based in the UAE, accused of being a senior executive within shipping companies linked to the sanctioned Iranian network, and Jacob Kurian and Anil Kumar Panackal Narayanan Nair, identified as key figures behind Neo Shipping Inc., a Marshall Islands-based company owning the vessel ABHRA. The ABHRA is accused of transporting Iranian oil using false flags and forged documents. Shreeji Gems Ltd, an India-based firm with Mr. Patel as director, is also implicated.

According to the Treasury Department, these entities and individuals helped to obscure the origin of Iranian oil, conduct ship-to-ship transfers at sea, and falsify documentation. U.S. officials allege the revenue generated from this smuggling operation helps fund Iran’s military and regional proxy forces.

“The Shamkhani family’s shipping empire highlights how the Iranian regime elites leverage their positions to accrue massive wealth and fund the regime’s dangerous behavior,” said Secretary of the Treasury Scott Bessent.

As a result of the sanctions, all property and interests of the designated Indian individuals and companies falling under U.S. jurisdiction are now blocked. U.S. citizens and businesses are prohibited from transacting with them. Furthermore, non-U.S. firms risk secondary sanctions if they continue doing business with the sanctioned parties.

This move sends a clear message to Indian businesses and maritime professionals involved in global shipping and logistics about the risks of engaging in activities that violate U.S. sanctions. Even indirect involvement, such as serving as a nominee shareholder or director of a front company, could result in significant financial and reputational damage.

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