US Slaps Sanctions on Four Indian Firms Over Alleged Iran Oil Ties

The US has imposed sanctions on four Indian companies and three nationals over their alleged involvement in Iran's petroleum and petrochemical trade.

As part of 'Operation Economic Outcast', a broader sanctions campaign announced by US Treasury Secretary Scott Bessent, the action targets networks involved in petroleum and petrochemical trade as well as other activities that contribute to Iran's military and destabilising operations.

The four companies named are Portease Partners LLP, Sadashiva Overseas Limited, PP Softtech Private Limited, and Prakrutees Infra Impex India Private Limited. They were accused of knowingly engaging in significant transactions involving Iranian petroleum or petrochemical products.

Sadashiva Overseas Limited was accused of importing approximately $69 million worth of Iranian-origin petroleum products between February 2024 and June 2025, while PP Softtech Private Limited imported around $25 million worth between January 2024 and June 2025. Prakrutees Infra Impex India Private Limited imported approximately $25 million worth of Iranian-origin petroleum products from multiple companies, including Bonjoure Commodity F.Z.E., between May 2023 and February 2026.

The sanctions mean that property and interests in property of the designated persons and entities within US jurisdiction are blocked. US persons are also generally prohibited from engaging in transactions involving them unless authorised or otherwise exempted under US law.