US Sanctions on Indian Companies Widen Economic War on Iran
The US Treasury has imposed sanctions on four Indian companies and three individuals for allegedly facilitating trade with Iran, widening its economic war on Tehran. The affected Indian companies are Portease Partners LLP, Sadashiva Overseas Limited, PP Softtech Private Limited, and Prakrutees Infra Impex India Private Limited.
The US alleges that these companies imported Iranian petrochemical products into India, with one company importing about $69 million worth of petroleum products between February 2024 and June 2025. The sanctions are part of 'Operation Economic Outcast', a broader campaign to choke off Tehran's remaining sources of revenue.
India-Iran trade has already shrunk by over 90% since the US imposed sanctions on Iran in 2018, from $17 billion to $1.63 billion in 2025-26. The main exports are rice, pharmaceuticals, tea, and other agricultural products, while imports include crude oil, LPG, apples, dates, almonds, and kiwi fruit.
India's northern basmati industry is particularly affected by the disruption of trade with Iran, as it relies on Dubai for commercial and financial arrangements. The UAE has suspended all trade activities with Iran until further notice, impacting India's ability to export goods to Iran.