Four companies registered in India have been added to a fresh round of US sanctions targeting entities accused of trading in Iranian petroleum, under an effort the Treasury Department has named Operation Economic Outcast. Treasury Secretary Scott Bessent unveiled the sanctions, describing them as designed to cut off every available channel through which Iran might still earn revenue from its oil exports.
The State Department named the firms as Portease Partners LLP together with its partners Indrismiya Ashrafmiya Sheikh and Harish Ramachandra Rangi, Sadashiva Overseas Limited, PP Softtech Private Limited along with its director Prashant Garg, and Prakrutees Infra Impex Private Limited. Each has been accused of knowingly engaging in significant transactions involving the purchase, acquisition, sale, transport or marketing of petroleum or petroleum products originating from Iran.
According to the figures released alongside the sanctions, Sadashiva Overseas is said to have imported Iranian petroleum worth close to 69 million dollars, while PP Softtech and Prakrutees Infra are each linked to imports valued at around 25 million dollars. Taken together, the numbers point to a trade flow that had continued despite years of American restrictions aimed at isolating Iran's energy exports.
The sanctions arrive alongside a wider warning from Washington urging governments around the world to sever economic ties with Tehran or risk facing consequences of their own, a stance that puts pressure not just on the companies directly named but on any trading partner weighing whether Iranian oil is worth the exposure to US enforcement action.
For the Indian firms involved, the designation is likely to cut them off from dealings tied to the US financial system and could complicate their broader business relationships, a reminder of how far reaching Washington's sanctions regime on Iran has become even for entities with no direct US presence of their own.