WASHINGTON, August 26, 2026: The United States has imposed sanctions on four India-based companies and three Indian nationals over their alleged involvement in transactions connected to Iran’s petroleum and petrochemical trade, as Washington intensifies efforts to restrict revenue generated by the Iranian government.
The action is part of the US government’s “Operation Economic Outcast,” an initiative aimed at targeting networks accused of facilitating Iran’s energy trade.
According to the US State Department, the India-based entities named in the latest sanctions action are Portease Partners LLP, Sadashiva Overseas Ltd, PP Softtech Pvt Ltd, and Prakrutees Infra Impex India Pvt Ltd.
The three Indian nationals designated in the action are Harish Ramchandra Rangi and Indrismiya Ashrafmiya Shekh, identified as designated partners of Portease Partners, and Prashant Garg of PP Softtech.
The US State Department alleged that Portease Partners, a customs brokerage firm, facilitated the import of Iranian petrochemical shipments into India. Sadashiva Overseas was accused of importing Iranian petroleum products valued at approximately $69 million from multiple companies.
According to the US authorities, PP Softtech and Prakrutees Infra Impex India Pvt Ltd each allegedly imported Iranian petroleum products worth around $25 million.
The State Department said the individuals and companies were sanctioned for allegedly knowingly engaging in significant transactions involving the purchase, acquisition, sale, transportation or marketing of petrochemical products from Iran.
The India-linked entities and individuals were among 60 individuals, companies and vessels that were simultaneously targeted under a broader sanctions action announced by the US Treasury Department.
The latest move comes as Washington continues to increase economic pressure on Iran by targeting international networks involved in the country’s petroleum and petrochemical trade. The United States has also warned that continued business dealings with Iran could expose companies and other entities to potential sanctions.
Meanwhile, the United States has reportedly begun returning personnel to some diplomatic missions in the Middle East that had earlier been evacuated or operated with reduced staffing amid tensions with Iran. The move has been viewed as an indication that Washington sees a lower immediate risk of a wider escalation, although some diplomatic missions are expected to continue functioning below full capacity.
The latest sanctions highlight the US administration’s continued efforts to identify and penalise companies, individuals and networks that it alleges are involved in facilitating Iran’s petroleum and petrochemical exports.
