The United States has imposed sanctions on four India-based companies and three Indian nationals for their alleged involvement in Iran's petroleum and petrochemical trade. This action is part of Washington's "Operation Economic Outcast," which seeks to reduce revenue sources for the Iranian government.
The sanctioned entities include Portease Partners LLP, Sadashiva Overseas Ltd, PP Softtech Pvt Ltd, and Prakrutees Infra Impex India Pvt Ltd. The designated individuals are Harish Ramchandra Rangi, Indrismiya Ashrafmiya Shekh, and Prashant Garg. US authorities allege these parties knowingly engaged in significant transactions involving the purchase and transport of Iranian petrochemical products.
According to the US State Department, Sadashiva Overseas reportedly imported $69 million worth of Iranian petroleum products, while PP Softtech and Prakrutees Infra each allegedly imported $25 million worth. These sanctions were part of a broader US Treasury Department announcement targeting 60 individuals, entities, and vessels.
