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.