US Sanctions 4 India-Based Firms, 3 Indians To Punish Iran

The United States has sanctioned four India-based companies and three Indian nationals for importing petroleum and petrochemical products from Iran, as part of a campaign announced on Monday to cut off Tehran's revenue.

US Treasury Secretary Scott Bessent announced "Operation Economic Outcast", which aims to block all potential sources of revenue for Iran. Washington has told countries to cut economic ties with Tehran or face retaliation, PTI reported.

The companies

Among the companies is Portease Partners LLP, a customs broker, and its partners Indrismiya Ashrafmiya Sheikh and Harish Ramachandra Rangi. The State Department said they facilitated the import of multiple shipments of Iranian petrochemical products.

The other companies are Sadashiva Overseas Limited, PP Softtech Private Limited and Prakrutees Infra Impex India Private Limited. Sheikh, Rangi and PP Softtech director Prashant Garg are Indian nationals, according to the release.

Sadashiva Overseas imported Iranian-origin petroleum products worth about USD 69 million between February 2024 and June 2025, media reported. Some shipments were linked to Bonjoure Commodity FZE, a company previously designated by Washington. PP Softtech and Prakrutees Infra each imported products worth about USD 25 million, taking the combined value to roughly USD 119 million.

The companies were listed for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport or marketing of petroleum or petroleum products from Iran, the State Department said.

The campaign

Bessent said the measures would tighten the noose around the Iranian government and described the campaign as an "economic D-Day", media reported. The Treasury has described it as an economic onslaught against Iran's financial connections around the globe.

State Department spokesperson Tommy Pigott said the United States took sweeping action against multiple entities, individuals and vessels enabling the Iranian regime's destabilising activities. He listed attacks against US forces and allies in the region, illicit weapons procurement, cyber intrusions into American infrastructure and the movement of energy products whose sale funds terrorism globally.

The latest list also includes about 20 companies based in China and Hong Kong and four China-based individuals. Nearly 60 individuals, entities and vessels were sanctioned, media reported.

Washington has previously targeted India-based companies over alleged Iranian oil dealings, including four firms in February and six companies and three Indian nationals in July last year, India Today reported. The latest sanctions come despite a fragile ceasefire between the US and Iran.

Iran's Foreign Ministry called the sanctions a threat to international law and the UN charter. Tehran has said it is ready to resist the pressure campaign.

The wider picture

Beijing is Iran's biggest trading partner and its leading oil buyer, and Bessent's remarks lacked specifics on how the US would target China, The Associated Press reported. President Donald Trump is preparing to host Chinese leader Xi Jinping next month to maintain a fragile trade truce.

(With inputs from PTI)