U.S. sanctions four Indian companies for facilitating Iran's oil and petrochemical shipments

The U.S. State Department announced sanctions against four Indian entities—Portease Partners LLP, Sadashiva Overseas Ltd, PP Softtech Pvt Ltd and Prakrutees Infra Impex India Pvt Ltd—claiming they helped ship Iranian petroleum and petrochemical products into India. Portease, a customs broker, was linked to two Indian partners, Indrismiya Asharafmiya Shekh and Harish Ramchandra Rangi, while PP Softtech’s director Prashant Garg was also designated.

The agencies said Sadashiva and PP Softtech imported roughly $69 million and $25 million respectively of Iranian-origin fuel, and Prakrutees moved about $25 million worth of such commodities. These actions fall under Executive Order 13846 and are tied to the newly launched “Operation Economic Outcast,” which aims to disrupt Iran’s financial and oil revenue streams. The United States also targeted related firms in Türkiye, Hong Kong and Iran, and offered up to $10 million for information on senior IRGC leaders. Property owned by the listed individuals and companies in the U.S. is now blocked, and U.S. persons must obtain OFAC permission for any dealings.