The United States has imposed sanctions on four Indian companies and three Indian individuals for allegedly facilitating trade involving Iranian petroleum and petrochemical products. Washington said the action was taken under its “Operation Economic Outcast” as part of efforts to intensify economic pressure on Tehran.
Among the Indian entities targeted is Portiz Partners LLP, a customs brokerage firm accused of helping facilitate imports of Iranian petrochemical products into the Indian market. The US administration also sanctioned Sadashiv Overseas Limited, alleging that the company imported petroleum products worth around $69 million from Iran between February 2024 and June 2025.
Two other firms, PP Softtech and Prakruthis Infra Impex, have also been placed under sanctions. US authorities allege that the companies were involved in importing Iranian petroleum products valued at approximately $25 million.
Three individuals associated with the sanctioned businesses have also been blacklisted. They include Harish Ramchandra Rangi and Indrisma Ashrafmia Sheikh, identified as partners of Portiz Partners, and Prashant Garg of PP Softtech.
According to the US Treasury Department, the targeted companies and individuals were involved in activities including the purchase, sale, transportation and marketing of Iranian-origin commodities. The latest action is part of a broader sanctions package targeting around 60 individuals, entities and vessels connected to Iran-related trade.
The move comes after US Treasury Secretary Scott Bessent recently warned countries and institutions against supporting Iran’s financial networks. He had cautioned that entities helping Tehran circumvent sanctions could face restrictions on their access to the US dollar-based financial system.
The latest sanctions signal Washington’s continued efforts to disrupt Iran’s oil revenues and increase economic pressure on businesses involved in Iranian energy trade.
