US Sanctions 4 Indian Firms in Iran Crackdown

The United States announced 'Operation Economic Outcast' on Monday, imposing sanctions on nearly 60 individuals, entities, and vessels, including four Indian companies, to cut off Iran's financial lifelines. The primary target is Iran's oil exports. The sanctions target networks supporting Iran's nuclear and missile technology procurement, cyber activities, and oil revenue. The US warned it would impose secondary sanctions on countries trading with Iran, potentially excluding them from the dollar-based financial system. Among the sanctioned Indian firms are Portice Partners, Sadashiva Overseas, PP Softtech, and Prakritees Infra Impex India, accused of knowingly trading Iranian oil. Three Indian citizens were also listed. Iran dismissed the threats, while China's imports of Iranian oil have reportedly declined significantly.