The United States has imposed sanctions on four India-based companies and three Indian nationals over their alleged involvement in the trade of Iranian-origin oil and petrochemical products. The action is part of Washington's wider effort to restrict Iran's global financial and energy networks.
According to the US Treasury, the sanctions target companies allegedly involved in transactions worth around USD 119 million. The measures were announced under Operation Economic Outcast, which focuses on entities and individuals accused of helping Iran generate revenue through international trade.
Sadashiva Overseas Limited was accused of importing approximately USD 69 million worth of Iranian-origin petroleum products between February 2024 and June 2025. The US Treasury alleged that some of these shipments were connected to Bonjoure Commodity FZE, an entity that had previously been designated by Washington.
Two other India-based companies, PP Softtech Private Limited and Prakrutees Infra Impex India Private Limited, were each accused of importing around USD 25 million worth of Iranian-origin petroleum products.
Portease Partners LLP, an India-based customs brokerage firm, was also sanctioned for allegedly facilitating multiple shipments of Iranian petrochemical products into India.
The sanctions also target three Indian nationals, including Prashant Garg, associated with PP Softtech, along with Indrismiya Asharafmiya Shekh and Harish Ramchandra Rangi, who were linked to Portease Partners.
The latest action is part of a broader US sanctions campaign aimed at increasing economic pressure on Tehran. US Treasury Secretary Scott Bessent described the campaign as an effort to intensify financial pressure on the Iranian government and warned that economic engagement with Iran could expose individuals and companies to penalties.
The sanctions come amid continuing tensions between Washington and Tehran despite a fragile ceasefire and the absence of a long-term political settlement. The US has previously imposed sanctions on other India-based companies over alleged dealings involving Iranian oil.
The latest sanctions package also includes companies and individuals based in China and Hong Kong, with nearly 60 individuals, companies and vessels reportedly targeted under the broader measures.
Iran has rejected the US pressure campaign and criticised the sanctions as unlawful. Iranian officials have said the country is prepared to withstand the economic measures and continue protecting its trade relationships.
The increased use of economic sanctions has also drawn attention from global oil markets. A shift away from direct military confrontation towards economic pressure has eased some immediate concerns over energy supply disruptions, although uncertainty remains over future developments in the Middle East.
The situation around the Strait of Hormuz continues to be closely watched, with Iran and Oman discussing proposals related to maritime navigation through the strategically important waterway. Oil markets could remain volatile depending on future diplomatic developments and any escalation in regional tensions.
The latest US sanctions highlight the growing risks faced by international companies and individuals involved in trade connected to Iranian oil and petrochemical products as Washington continues its campaign to limit Tehran's access to global revenue and financial networks.
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