US Sanctions Four Indian Companies and Nationals Over Iranian Oil and Petrochemical Trade

The United States has imposed sanctions on four India-based companies and three Indian nationals for their alleged role in facilitating the import of Iranian petroleum and petrochemical products, as part of a broader campaign to curb Tehran’s energy revenues.

According to the US State Department and Treasury, the action targets Portease Partners LLP, an Indian customs brokerage firm, along with its two partners, Indrismiya Asharafmiya Shekh and Harish Ramchandra Rangi. Officials said the firm helped arrange multiple shipments of Iranian petrochemical products into India.

Three other Indian companies were also designated: Sadashiva Overseas Limited, PP Softtech Private Limited, and Prakrutees Infra Impex India Private Limited. Prashant Garg, a director of PP Softtech, was separately sanctioned.

US authorities alleged that the companies collectively handled approximately $119 million worth of Iranian-origin petroleum and petrochemical products. Sadashiva Overseas is accused of importing about $69 million in such goods between February 2024 and June 2025. PP Softtech and Prakrutees Infra Impex are each said to have imported roughly $25 million worth of Iranian products over overlapping periods.

The designations were made under Executive Order 13846, which aims to restrict revenue streams from Iran’s oil and petrochemical trade. The measures form part of “Operation Economic Outcast,” a new US effort to expand secondary sanctions against foreign entities and individuals that enable Iran’s energy exports.

The action comes as Washington intensifies pressure on networks supporting Iranian petroleum trade, targeting intermediaries, traders, and service providers outside Iran. The inclusion of Indian firms has drawn attention amid the broader US-India trade and strategic relationship.