The United States has restricted nearly 60 entities, individuals, and vessels – including four India-based companies – over their alleged links to Iran’s military activities, procurement networks, and petroleum trade.
The measures, announced under “Operation Economic Outcast”, target support for attacks on US forces and allies, terrorism, military procurement, and Iran’s oil trade.
According to US State Department, the sanctions aim to expose those enabling strikes and to restrict the revenue the Iranian regime uses to attack its neighbours, support terrorism abroad, brutally oppress its own people, and hold the global economy hostage.
The four Indian firms identified in State Department release are Portease Partners LLP, PP Softtech Pvt Ltd, and Prakrutees Infra Impex India Pvt Ltd, which were involved in the import or facilitation of Iranian petroleum and petrochemical products.
The combined transactions for Sadashiva Overseas, PP Softtech, and Prakrutees Infra total approximately $119 million, whilst no specific transaction value was specified for Portease Partners LLP.
Among the designated individuals, US has blocked Indian nationals Indrismiya Asharafmiya Shekh and Harish Ramchandra Rangi, both designated partners of Portease Partners LLP, alongside Prashant Garg, the director of PP Softtech Private Limited.
According to the US Department of State, the specific allegations against the firms are –
Portease Partners LLP: The India-based customer broker company is accused of facilitating multiple shipments of Iranian petrochemical products into India and is sanctioned under Executive Order (E.O.) 13846.
Sadashiva Overseas Limited: Allegedly imported approximately $69 million worth of Iranian-origin petroleum products between February 2024 and June 2025.
PP Softtech Private Limited: Knowingly imported approximately $25 million worth of Iranian-origin petroleum products between January 2024 and June 2025.
Prakrutees Infra Impex India Private Limited: Imported Iranian-origin petroleum products worth approximately $25 million between May 2023 and February 2026.
These products were reportedly sourced from several Iranian-linked companies, including the US-designated Bonjoure Commodity FZE.
Under the sanctions, all assets and properties of the designated individuals and entities located in the US or controlled by US persons will be frozen and must be reported to the US Treasury’s Office of Foreign Assets Control (OFAC).
The companies that are 50 per cent or more owned, directly or indirectly, by sanctioned parties will also face these restrictions. US persons and entities are generally barred from doing business or conducting transactions with the blocked parties unless specifically authorised by OFAC.
The US State Department noted that while the sanctions are intended to encourage changes in behaviour, designated entities may submit a petition to OFAC to request removal from the list.
