The companies were named in the latest US sanctions action under Operation Economic Outcast, with Washington alleging their involvement in Iranian petroleum and petrochemical trade.

The United States has sanctioned four India-based companies as part of its latest pressure campaign against Iran, alleging that the firms were involved in petroleum, petrochemical trade and procurement networks linked to Tehran. The action comes under “Operation Economic Outcast”, a broader US effort to cut Iran's economic lifelines and disrupt networks that Washington says support its military and revenue-generating activities. 

The four India-based entities named by the US are Portease Partners LLP, Sadashiva Overseas Limited, PP Softtech Private Limited and Prakrutees Infra Impex India Private Limited. The US State Department has alleged that the companies were involved in importing Iranian-origin petroleum or petrochemical products into India. 

According to the US claims, Portease Partners facilitated the import of multiple shipments of Iranian petrochemical products into India. The department also identified two Indian nationals, Indrismiya Ashrafmiya Shekh and Harish Ramchandra Rangi, as designated partners of the firm. 

Four Indian Entities Named

The US alleged that Sadashiva Overseas imported approximately $69 million worth of Iranian-origin petroleum products from multiple companies between February 2024 and June 2025. Washington said the designation was made under an executive order covering significant transactions involving Iranian petroleum and petroleum products.

The sanctions announcement also named PP Softtech Private Limited, which the US said imported approximately $25 million worth of Iranian-origin petroleum products between January 2024 and June 2025. Prashant Garg, identified as an Indian national and director of the company, was also named in the announcement. 

The fourth company, Prakrutees Infra Impex India Private Limited, was accused by Washington of importing Iranian-origin petroleum products worth around $25 million between May 2023 and February 2026. The US said the products were sourced from multiple companies, including a firm already designated by Washington. 

Part of Wider Iran Campaign

The action against the Indian companies is part of a much larger US sanctions campaign. Treasury Secretary Scott Bessent announced Operation Economic Outcast on August 24, describing it as an effort to sever Iran's financial and commercial connections around the world. The wider measures target networks associated with Iran's petroleum revenues, military procurement and cyber activities. 

The campaign also expands pressure on sectors including digital assets, technology, gold, aviation and shipping, while the US has sanctioned dozens of individuals, entities and vessels in the latest round. Washington has warned that companies and financial institutions facilitating transactions that generate revenue for Iran could face further action.

India-Iran Trade Under Pressure

The latest designations could add another layer of uncertainty for Indian companies that maintain commercial links with Iran, particularly in energy and related trading sectors. India has historically maintained economic and strategic engagement with Iran, including connectivity and trade interests, while also managing its relationship with the United States.

The immediate US action, however, is directed at the four named entities and is based on allegations made by Washington. It should not be interpreted as a blanket sanction against Indian businesses or India-Iran trade as a whole.

Companies Yet to Respond

There was no immediate response from the four companies to the US announcement in the reports available at the time of publication. The allegations therefore remain those made by the US authorities, and the companies' positions have not yet been reported.

The development comes as Washington seeks to put greater pressure on Iran's international trade and financial networks. The US has also warned governments and businesses that continued dealings with Iranian entities could expose them to American sanctions.

For Indian businesses involved in Iran-related trade, the latest action underlines the growing sanctions and compliance risks surrounding transactions connected to Iranian petroleum and other targeted sectors.

The Israeli prime minister praised Donald Trump and Scott Bessent after Washington launched Operation Economic Outcast, targeting Iran’s financial and trade networks.

Israeli Prime Minister Benjamin Netanyahu has backed the latest US sanctions against Iran, praising President Donald Trump and Treasury Secretary Scott Bessent for what he described as measures that would impose a “steep price” on Tehran and those supporting its actions. Netanyahu made the remarks shortly after Washington launched a new economic campaign aimed at cutting Iran off from international financial and commercial networks. 

In a post on X, Netanyahu congratulated Trump and Bessent over the latest sanctions against the Iranian regime. He said the measures were aimed at Iran and those he accused of assisting its continued aggression. 

The comments came after the US Treasury Department announced Operation Economic Outcast on August 24, describing it as a broad, government-wide campaign against Iran and entities supporting its activities. Treasury Secretary Scott Bessent said the objective was to disrupt the financial connections and revenue streams that sustain the Iranian government.

US Expands Economic Pressure

The latest US measures target nearly 60 individuals, entities and vessels, according to reports, over alleged links to Iran’s military activities, procurement networks and petroleum and petrochemical trade. Washington has also identified five sectors that it says are being used by Iran to support its economy: digital assets, technology, gold, aviation and shipping.

Bessent said the Treasury had mapped networks that Iran allegedly uses to move oil and evade sanctions. He warned that US agencies would move against sources of revenue linked to the Iranian regime and the Islamic Revolutionary Guard Corps. 

The campaign represents an escalation in Washington’s economic pressure on Tehran. Rather than focusing only on Iranian entities, the United States is also seeking to pressure companies and other actors outside Iran that maintain business relationships with the country.

Netanyahu Supports Trump

Netanyahu's response reflects Israel's broader support for Washington's efforts to restrict Iran's economic resources. Israel has long viewed Iran's nuclear programme, missile capabilities and regional activities as major security concerns.

The Israeli prime minister's latest comments did not announce any new Israeli sanctions. Instead, they endorsed the US measures and praised the Trump administration's approach towards Tehran. 

The statement also comes amid heightened tensions involving Iran and the United States, with Washington increasing economic pressure while keeping the possibility of further action open.

Iran Faces New Pressure

Bessent has framed the campaign as a choice for Tehran between continued international isolation and returning to the global economy. He said the United States wanted to cut the financial lifelines that support the Iranian regime while leaving a route open for Iran to normalise its economic relations if it changes course.

The Treasury chief also indicated that Washington was communicating with international partners and warning countries and businesses about the consequences of continuing certain dealings with Iran. Reuters reported that the US has been seeking to persuade countries and companies to reduce their business ties with Tehran or face possible sanctions. 

Global Trade Impact

The expanded sanctions could have implications beyond Iran because the campaign is aimed partly at international networks involved in Iranian trade. Oil, shipping, aviation and financial transactions are particularly sensitive because restrictions on these sectors can affect companies and countries that maintain commercial links with Tehran.

The United States has previously used secondary sanctions to deter foreign businesses from dealing with Iran. The latest campaign indicates a stronger effort to enforce those measures across international networks.

For now, Netanyahu's statement adds political backing from Israel to Washington's latest economic offensive. The immediate focus will be on how Iran and other countries respond to the expanded US sanctions and whether the pressure leads to changes in Tehran's economic or diplomatic position.