US Slaps Sanctions on Four Indian Companies Over Iranian Oil Imports

The US has imposed sanctions on four India-based companies for importing petroleum and petrochemical products from Iran. The move is part of an unprecedented campaign to sever Iran's financial lifelines, according to the US Treasury Secretary.

The sanctioned companies include Portease Partners LLP, a customs broker, and its partners Indrismiya Ashrafmiya Sheikh and Harish Ramachandra Rangi. They facilitated the import of multiple shipments of Iranian petrochemical products worth around $25 million each.

The US has told countries to cut economic ties with Tehran or face retaliation, as part of 'Operation Economic Outcast'. The campaign aims to block all potential sources of revenue for Iran, and broaden the risk of secondary sanctions for entities continuing to do business with Tehran.