US Sanctions 4 Indian Businesses and 3 Nationals Over Iran Oil Ties

The United States has sanctioned four India-based companies and three Indian nationals over their alleged involvement in Iran’s petroleum and petrochemical trade, as Washington expands its campaign to cut off Tehran’s sources of revenue.

The action is part of “Operation Economic Outcast”, a broader sanctions campaign announced by US Treasury Secretary Scott Bessent targeting Iran’s financial and commercial networks. The US has warned businesses and other entities continuing to engage with Tehran of increased exposure to secondary sanctions.

The four companies named by the US State Department are Portease Partners LLP, Sadashiva Overseas Limited, PP Softtech Private Limited and Prakrutees Infra Impex India Private Limited.

What are the allegations against the Indian firms?

The US has accused the companies of knowingly engaging in significant transactions involving Iranian petroleum or petrochemical products.

Portease Partners, described by the State Department as an India-based customs broker, was accused of facilitating the import of multiple shipments of Iranian petrochemical products into India.

Two of its designated partners, Indrismiya Ashrafmiya Shekh and Harish Ramchandra Rangi, both Indian nationals, were also sanctioned.

Sadashiva Overseas Limited was accused of importing approximately $69 million worth of Iranian-origin petroleum products between February 2024 and June 2025. The State Department said the imports involved multiple companies, including Bonjoure Commodity F.Z.E., which is already under US sanctions.

The US also alleged that PP Softtech Private Limited imported approximately $25 million worth of Iranian-origin petroleum products between January 2024 and June 2025. Its director, Prashant Garg, was separately designated.

The fourth company, Prakrutees Infra Impex India Private Limited, was accused of importing Iranian-origin petroleum products worth approximately $25 million from multiple companies, including Bonjoure Commodity F.Z.E., between May 2023 and February 2026.

Taken together, the transactions involving Sadashiva Overseas, PP Softtech and Prakrutees Infra that were quantified by the US amount to approximately $119 million.

US widens pressure on Iran

The sanctions against the Indian entities form part of a much wider US action targeting individuals, companies and vessels allegedly involved in activities supporting Iran.

The State Department said the latest measures target networks involved in petroleum and petrochemical trade as well as other activities that Washington says contribute to Iran’s military and destabilising operations.

Bessent has described Operation Economic Outcast as an effort to sever Iran’s financial lifelines and has warned entities that continue doing business with Tehran that they could face US sanctions.

The latest round reportedly covers nearly 60 individuals, entities and vessels, extending beyond Iran’s oil trade to other sectors and procurement networks.

State Department spokesperson Tommy Pigott said the US action was aimed at entities allegedly enabling activities including weapons procurement, cyber operations and the movement of energy products.

The designations were made under the US Iran sanctions framework, including Executive Order 13846, which permits Washington to target entities involved in significant transactions concerning Iranian petroleum and petrochemical products.

The US sanctions mean that property and interests in property of the designated persons and entities within US jurisdiction are blocked. US persons are also generally prohibited from engaging in transactions involving them unless authorised or otherwise exempted under US law.