US Sanctions Four India-Based Companies Over Iran Oil Trade
The US has imposed sanctions on four India-based companies and three Indian nationals for allegedly engaging in the trade of Iranian petroleum and petrochemical products.
The entities targeted include Portease Partners LLP, a customs broker that facilitated the import of multiple shipments of Iranian petrochemical products to India, as well as Sadashiva Overseas Limited, PP Softtech Private Limited, and Prakrutees Infra Impex India Private Limited.
According to the US State Department, these companies knowingly engaged in significant transactions involving the purchase, acquisition, sale, transport or marketing of Iranian petroleum or petrochemical products.
The sanctions were announced as part of 'Operation Economic Outcast', a broader campaign targeting Iran's military activities, procurement networks, cyber operations and petroleum and petrochemical trade.