The United States has sanctioned four India-based companies and three Indian nationals over their alleged involvement in importing Iranian petroleum and petrochemical products, expanding Washington’s economic pressure campaign against Tehran.
The action forms part of the newly announced “Operation Economic Outcast,” which is designed to restrict Iran’s access to international revenue and increase pressure on companies and individuals accused of facilitating its energy trade.
Four India-Based Companies Targeted
According to the latest disclosures, the India-based companies named in the sanctions are Portease Partners LLP, Sadashiva Overseas Limited, PP Softtech Private Limited and Prakrutees Infra Impex India Private Limited.
The three Indian nationals designated are Harish Ramchandra Rangi and Indrismiya Ashrafmiya Sheikh, identified as designated partners of Portease Partners, and Prashant Garg, who is associated with PP Softtech.
Washington alleges that Portease Partners, a customs broker, helped facilitate multiple shipments of Iranian petrochemical products into India.
US authorities also allege that Sadashiva Overseas imported approximately $69 million worth of Iranian petroleum products, while PP Softtech and Prakrutees Infra each imported products valued at roughly $25 million.
These are allegations made by the US government as the basis for its sanctions designations.
Part of Wider Iran Sanctions Campaign
The Indian companies and individuals are part of a much broader sanctions package targeting nearly 60 individuals, companies and vessels linked to Iran.
Washington’s latest campaign extends beyond petroleum, with sanctions risks covering areas including shipping, aviation, technology, gold and digital assets. The US has also warned countries and companies maintaining certain economic relationships with Tehran that they could face secondary sanctions.
The measures are aimed partly at restricting revenue that Washington says supports Iran’s military, missile and nuclear-related activities.
India-Iran Trade Faces Fresh Pressure
The development comes at a difficult time for trade between India and Iran.
India’s bilateral trade with Iran has already fallen sharply from about $17 billion in 2018-19, while new US sanctions and disruptions to UAE-based trade and financial channels are creating additional problems for Indian exporters of products such as rice, tea and pharmaceuticals.
The latest designation of Indian companies could therefore increase compliance concerns for businesses dealing directly or indirectly with Iran.
Meanwhile, Iran has condemned Washington’s expanded sanctions campaign and vowed to resist the pressure. Tehran has also indicated that sanctions relief would be an important condition for renewed negotiations with the United States.
The latest action highlights the growing international reach of Washington’s campaign against Iran, with Indian businesses now among the entities directly caught in the expanding sanctions net.
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