An Indian-origin firm on Thursday found itself among the list of 11 Iran-linked companies hit with fresh sanctions from the US State Department.
The export-import (EXIM) firm, Rishabh Triexim LLP, is the India-based company sanctioned as a part of Washington's latest attempt to ramp up pressure on Iran amid the war in the Gulf, which nears three months.
The US alleged that the petrochemical trading firm had imported approximately $54.6 million worth of Iranian-origin petrochemical products from multiple companies between February and August 2024.
A press release from the State Department also identified Swaroop Jayantilal Bagrecha, an Indian national and resident, as a designated partner of the company, but did not identify vessels associated with Rishabh Triexim.
"We will not allow the Iranian government to increase its oil revenue for the purpose of reconstituting its armed forces and military capabilities," Treasury Secretary Scott Bessent said in a statement.
The Treasury Department also pointed out that some of the sanctioned Iranian entities were also using the oil sale infrastructure of Iran's armed forces to obtain oil products from outside the country.
The Thursday sanctions come despite the US claiming breakthroughs in peace talks.
In fact, US President Donald Trump declared on Friday that the naval blockade of the Strait of Hormuz would be lifted, and that he would meet with his aides on Friday to make a final decision on a potential deal with Iran.
Iran, however, remains sceptical as the peace talks drag on, with its top negotiator, Mohammad Bagher Ghalibaf saying that Tehran had "no trust in guarantees or words—only actions".
Sanctions on the oil tanker 'Benedict'
The sanctions on Rishabh Triexim LLP also come just months after similar actions on the shadow fleet oil tanker Benedict (IMO: 9293155), owned by Elevate Marine Management Private Limited (an Indian-origin firm).
Akash Anant Shinde, an Indian national identified as the director of the maritime firm, has also been sanctioned by association with it.
According to the State Department, the Cameroon-flagged crude oil tanker had allegedly transported Iranian petroleum products at least three times between September and November 2025.
