US Sanctions 4 Indian Firms, 3 Individuals Over Iranian Oil Deals

The US has sanctioned four India-based companies and three Indian nationals for their alleged role in transactions involving Iranian petroleum and petrochemical products, as per news reports.  

The measures were announced on Monday alongside sanctions against entities and individuals in several other countries. Portease Partners LLP, Sadashiva Overseas, PP Softtech and Prakrutees Infra Impex were named in the latest action.  

The three individuals are Indrismiya Ashrafmiya Sheikh, Harish Ramachandra Rangi and Prashant Garg. 

Details of the Alleged Imports 

According to the US State Department, Sadashiva Overseas imported Iranian-origin petroleum products worth about $69 million between February 2024 and June 2025. 

PP Softtech imported products valued at approximately $25 million between January 2024 and June 2025, the department said. Prakrutees Infra Impex imported Iranian-origin petroleum products worth around $25 million between May 2023 and February 2026. 

Customs Broker Also Included 

Portease Partners LLP was described as an India-based customs broker that facilitated the import of multiple shipments of Iranian petrochemical products into India. 

Sheikh and Rangi, identified as the firm's partners, were sanctioned alongside the company. Garg, an Indian national and director of PP Softtech, was also included in the action. 

Part of Iran Sanctions 

The four companies were designated for allegedly carrying out significant transactions involving the purchase, acquisition, sale, transport or marketing of petroleum or petroleum products from Iran. 

The measures are part of Operation Economic Outcast, announced by US Treasury Secretary Scott Bessent. The campaign is intended to restrict Iran's access to revenue and widen the risk of secondary sanctions for businesses and other entities continuing economic ties with Tehran. 

Other Countries Covered 

The latest package also includes entities in Türkiye, Hong Kong and Iran. The US targeted businesses involved in trading, transporting and handling Iranian petroleum and petrochemical products, along with intermediaries and maritime service providers. 

A Hong Kong-based company, Clever Shipping Limited, was also sanctioned over its alleged role in managing a crude oil tanker that the US said carried Iranian-origin petroleum on several occasions between 2025 and 2026. 

Under the sanctions, assets of the designated companies and individuals in the US, or controlled by US persons, are blocked. There was no immediate comment from the four India-based companies following the announcement. 

Read More: Government Revises Medical Device Rules to Ease Outsourced Sterilisation Licensing! 

Conclusion  

The sanctions action includes companies involved in importing, facilitating or handling Iranian-origin petroleum and petrochemical products. The measures were announced under the wider US campaign to restrict Iran's energy-related revenue. 

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