US targets India-based Elevate Marine in broader Iran oil sanctions
Washington: The United States today announced a new sanctions action beginning with penalties against an India-based maritime services company and its director in connection with the transportation of Iranian petroleum products, as part of a broader effort targeting entities, individuals and vessels linked to Iran’s oil and petrochemical trade.
In a press statement and accompanying fact sheet, the U.S. Department of State said it has sanctioned Elevate Marine Management Private Limited, an Indian company, under Section 3(a)(ii) of Executive Order 13846 for knowingly engaging in a significant transaction involving the purchase, acquisition, sale, transport or marketing of petroleum or petroleum products from Iran. According to the Department, Elevate acted as the commercial manager of the Cameroon-flagged crude oil tanker Benedict, which transported Iranian petroleum products on at least three occasions between September and November 2025.
The State Department also blocked Akash Anant Shinde, an Indian national and director of Elevate Marine Management Private Limited, under Section 5(a)(vii) of Executive Order 13846, identifying him as a principal executive officer of the company. The tanker Benedict was identified as property in which Elevate has an interest.
The action against the Indian firm forms part of a wider sanctions package in which the United States designated 15 entities, two individuals, and 14 vessels connected to the illicit trade in Iranian crude oil, petroleum products and petrochemical products. U.S. officials said these activities generate revenue linked to Iran’s energy exports and are carried out through networks of shipping managers, vessel owners, traders and intermediaries operating across multiple jurisdictions.
As part of the same action, the Department of State identified 14 shadow fleet vessels as blocked property. According to U.S. authorities, these vessels were involved in the transport of Iranian petroleum, petroleum products and petrochemical products and were managed or owned by companies that enabled such shipments. The Department said the vessels had transported millions of barrels of Iranian crude oil and played a role in Iran’s export supply chain during 2023, 2024 and 2025.
Beyond India, the sanctions target shipping management firms, registered owners and vessels linked to operations in the United Arab Emirates, Türkiye, China, Kazakhstan, Seychelles, the Marshall Islands and other jurisdictions. Several of the designated companies were identified as commercial managers or owners of tankers that transported Iranian-origin crude oil, oil products, liquefied petroleum gas and ammonia. In contrast, others were cited for transporting Iranian-origin petrochemical products.
The sanctions package also includes measures against four trading companies accused by U.S. authorities of importing, exporting or transshipping Iranian-origin petrochemical products between 2024 and 2025. Two individuals associated with those companies were blocked based on their roles as managers or principal executives.
Today’s designations follow earlier U.S. sanctions actions that have also involved Indian companies and nationals in connection with Iran’s energy and petrochemical trade. In July 2025, the United States sanctioned Alchemical Solutions Private Limited, Global Industrial Chemicals Limited, Jupiter Dye Chem Private Limited, Ramniklal S. Gosalia & Company, Persistent Petrochem Private Limited, and Kanchan Polymers, citing their involvement in significant transactions involving Iranian-origin petrochemical products during 2024 and early 2025. Those measures resulted in the blocking of all property and interests in property of the designated companies within U.S. jurisdiction.
In a subsequent action in October 2025, additional India-based chemical and petrochemical trading firms were included in broader U.S. sanctions related to Iranian energy exports. These included Indisol Marketing Private Limited, CJ Shah & Company, Chemovick Private Limited, Mody Chem, Paarichem Resources, Haresh Petrochem Private Limited, Shiv Texchem Limited, and BK Sales Corporation, along with certain Indian nationals linked to those businesses. Those designations were also made under U.S. authorities governing Iran-related sanctions.
U.S. officials said all designations announced on February 6 were made pursuant to Executive Order 13846, which authorises and reimposes certain sanctions with respect to Iran, and in furtherance of the President’s National Security Presidential Memorandum 2. The Department of State said the measures are intended to restrict revenue flows associated with Iran’s oil and petrochemical exports.
As a result of the sanctions, all property and interests in property of the designated or otherwise blocked persons that are in the United States or in the possession or control of U.S. persons are blocked. They must be reported to the Department of the Treasury’s Office of Foreign Assets Control (OFAC). The restrictions also extend to entities that are owned, directly or indirectly, 50 per cent or more by one or more blocked persons.
The sanctions prohibit U.S. persons, or transactions within or transiting the United States, from engaging in dealings involving the designated entities or individuals unless authorised by a general or specific OFAC license or otherwise exempt under U.S. law. This includes the provision or receipt of funds, goods or services involving blocked persons.
The State Department said the sanctions framework also provides for the removal of individuals or entities from the Specially Designated Nationals and Blocked Persons List in accordance with U.S. law. Petitions for reconsideration may be submitted to OFAC, and guidance on delisting is available through the Department of State.
– global bihari bureau
