4 India-based firms engulfed in Trump's new Iran ire
Four Indian firms and three Indian nationals are now under US sanctions in response to increased scrutiny of businesses dealing with Iran. The US State Department sanctioned customs broker Portease Partners LLP and Indrismiya Ashrafmiya Sheikh and Harish Ramachandra Rangi for facilitating shipments of Iranian petrochemical products to India.
Additionally, Sadashiva Overseas Ltd, PP Softtech Pvt Ltd, and Prakrutees Infra Impex India Pvt Ltd were targeted. Imports related to these companies totaled around $120 million, though it is a small fraction of India's total trade. The sanctions are part of a broader campaign, dubbed Operation Economic Outcast by US Treasury Secretary Scott Bessent, aimed at severing Iran's financial lifelines.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
