US Sanctions 4 India-Based Firms Over Iran Oil Trade Under ‘Operation Economic Outcast’
The United States has imposed sanctions on four India-based companies and several Indian nationals over their alleged involvement in Iran’s petroleum and petrochemical trade, as Washington intensifies its economic pressure on Tehran under “Operation Economic Outcast.” Indian firms targeted over Iranian oil imports Among the entities sanctioned is customs broker Portease Partners LLP, which the US…
The United States has imposed sanctions on four Indian companies and several Indian nationals for their alleged involvement in Iran's petroleum and petrochemical trade, as part of President Biden's aggressive economic pressure campaign against Tehran under the banner of "Operation Economic Outcast." The targeted entities include customs broker Portease Partners LLP, which is accused of facilitating multiple shipments of Iranian petrochemical products into India, and its partners, Indrismiya Ashrafmiya Shekh and Harish Ramchandra Rangi, both Indian nationals.
Additionally, Sadashiva Overseas Ltd, PP Softtech Private Ltd, and Prakrutees Infra Impex India Private Ltd have been sanctioned. The sanctions target these companies for importing Iranian-origin petroleum products worth hundreds of millions of dollars over various periods, including between February 2024 and June 2025. The US Treasury Secretary, Scott Bessent, stated that these entities could lose access to the US dollar financial system, signifying a broader effort to cut Iran's economic lifelines.
The US campaign, described as the "toughest economic offensive," also includes the potential imposition of secondary sanctions on sectors such as digital assets, technology, gold, aviation, and shipping, with financial institutions like Chinese banks also under potential scrutiny.
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