US sanctions 4 India-based firms over Iranian oil trade
What's the story
The United States has imposed sanctions on four India-based companies for their alleged involvement in trade and procurement networks related to Iranian petroleum and petrochemicals. The designations were made under "Operation Economic Outcast," a campaign targeting entities suspected of supporting Iran's military activities. The move is part of Washington's broader strategy to curb Iran's oil revenues and disrupt networks allegedly aiding its operations.
List
Portease Partners and Sadashiva Overseas
The US State Department has accused Portease Partners LLP of facilitating multiple shipments of Iranian petrochemical products to India.
Two Indian nationals, Indrismiya Asharafmiya Shekh and Harish Ramchandra Rangi, are said to be designated partners in this company.
Sadashiva Overseas Limited has also been targeted for importing around $69 million worth of Iranian-origin petroleum products from several companies between February 2024 and June 2025.
Sanctions
PP Softtech and Prakrutees Infra Impex
The US State Department has also sanctioned PP Softtech Private Limited for importing around $25 million worth of Iranian-origin petroleum products between January 2024 and June 2025.
Prashant Garg, an Indian national and Director at PP Softtech, is named in the release.
Another company mentioned is Prakrutees Infra Impex India Pvt Ltd, which allegedly imported Iranian-origin petroleum products worth $25 million from several companies between May 2023 and February 2026.
Others
US targets entities aiding Iran's nuclear, missile tech acquisition
In addition to the Indian companies, the US Treasury Department has also sanctioned over 60 entities that help Iran acquire illegal nuclear and missile technology.
These include those who helped transfer "proliferation-sensitive equipment" to Malek Ashtar University of Technology in Tehran, which has facilities that have aided Iran's nuclear and ballistic missiles programs.