The United States has imposed sanctions on four India-based companies and three Indian nationals over their alleged involvement in Iran’s petroleum and petrochemical trade. The action is part of Washington’s newly launched “Operation Economic Outcast”, a wider campaign aimed at cutting off Iran’s sources of revenue and putting pressure on its international business networks.
The four companies named by the US are Portease Partners LLP, Sadashiva Overseas Limited, PP Softtech Private Limited and Prakrutees Infra Impex India Private Limited. Washington has accused the companies of either importing Iranian petroleum products or helping facilitate such transactions.
According to US authorities, Sadashiva Overseas imported Iranian-origin petroleum products worth around $69 million between February 2024 and June 2025. PP Softtech and Prakrutees Infra were each accused of importing products worth about $25 million. Together, the transactions cited by the US amount to roughly $119 million.
Portease Partners, described as an India-based customs broker, was sanctioned for allegedly facilitating multiple shipments of Iranian petrochemical products into India.
Three Indian nationals were also included in the sanctions list. They are Portease Partners’ designated partners Indrismiya Ashrafmiya Shekh and Harish Ramchandra Rangi, along with Prashant Garg, a director of PP Softtech. The US State Department said the individuals and companies were targeted because of what Washington described as significant transactions involving the purchase, acquisition, sale, transportation or marketing of Iranian petrochemical products.
The latest action forms part of a much broader US sanctions package. Washington has targeted nearly 60 individuals, companies and vessels connected to Iran, focusing on areas including petroleum, shipping, technology, aviation, digital assets and networks linked to Iran’s military and nuclear programmes.
The move comes as the US is also warning countries and businesses that continue certain dealings with Iran that they could face secondary sanctions. The pressure could create additional challenges for Indian businesses trading with Tehran, particularly in payments, shipping and insurance.
India and Iran continue to maintain economic ties, although bilateral trade has fallen sharply in recent years. Reuters reported that India’s exports to Iran could face further pressure because of the latest US measures and disruptions to financial transactions through the UAE.
The sanctions therefore add another sensitive issue to India-US relations, while Washington continues its effort to restrict Iran’s access to international markets and reduce the revenue available to Tehran.
Reader Comments 0