US Hits India-Based Firms with Sanctions Over Iranian Oil Trade
The US has imposed sanctions on four India-based companies and three Indian nationals for their alleged involvement in trading Iranian petroleum and petrochemical products. This move is part of 'Operation Economic Outcast', a broader campaign targeting Iran's military activities, procurement networks, cyber operations, and petroleum trade.
The sanctioned entities include Portease Partners LLP, Sadashiva Overseas Limited, PP Softtech Private Limited, and Prakrutees Infra Impex India Private Limited. Portease Partners, an India-based customs broker, facilitated the import of multiple shipments of Iranian petrochemical products into India.
The US State Department said that these companies knowingly engaged in significant transactions involving the purchase, acquisition, sale, transport or marketing of Iranian petroleum or petrochemical products.