US sanctions 4 Indian firms, 3 nationals over Iran oil trade

The US has imposed sanctions on four India-based companies and three Indian nationals for alleged involvement in Iranian oil and petrochemical trade worth about USD 119 million, part of Washington's broader effort to cut off Tehran's revenue. The Treasury Department's action targets Sadashiva Overseas Limited, which allegedly imported nearly USD 69 million in Iranian petroleum products between February 2024 and June 2025, plus PP Softtech and Prakrutees Infra Impex, each accused of importing roughly USD 25 million. Customs broker Portease Partners LLP was also sanctioned for facilitating shipments. The sanctions fall under "Operation Economic Outcast," with Treasury Secretary Scott Bessent calling it "economic D-Day" for Iran. The action coincides with a fragile US-Iran ceasefire and follows previous sanctions on Indian firms in February and July last year, while also targeting about 20 China-based companies and four Chinese nationals.