Four India-based firms, 3 Indian nationals sanctioned by US for trade links with Iran

New Delhi: As the United States mounts pressure on Tehran under “Operation Economic Outcast”, it has sanctioned four India-based companies and three Indian nationals over their alleged involvement in the import and facilitation of Iranian petroleum and petrochemical products.

Among the companies targeted is Portease Partners, an India-based customs broker that the US State Department accused of facilitating multiple shipments of Iranian petrochemical products to India.

Its designated partners, Indrismiya Ashrafmiya Sheikh and Harish Ramchandra Rangi, both Indian nationals, were also sanctioned.

The US also designated Sadashiva Overseas, alleging that the company imported about USD 69 million worth of Iranian-origin petroleum products between February 2024 and June 2025. Some of the shipments were linked to Bonjoure Commodity FZE, an entity previously designated by Washington.

PP Softtech was accused of importing approximately USD 25 million worth of Iranian-origin petroleum products between January 2024 and June 2025. Its director, Prashant Garg, was also placed under sanctions.

Prakrutees Infra Impex India Private Limited was similarly targeted over approximately USD 25 million worth of Iranian petroleum imports between May 2023 and February 2026.

The US said the companies were designated for knowingly engaging in significant transactions involving the purchase, acquisition, sale, transport or marketing of Iranian petroleum or petrochemical products. The action was taken under Executive Order 13846.

The latest measures form part of Washington’s broader effort to cut Iran’s oil and petrochemical revenues and increase the risk of secondary sanctions for businesses that continue to engage with Tehran.

The sanctions could increase compliance and financial risks for Indian companies involved in Iran-linked trade. (BVI)