US sanctions four India-based firms over Iran oil imports

The US has sanctioned four India-based companies for importing petroleum and petrochemical products from Iran, as part of a new campaign announced Monday. Treasury Secretary Scott Bessent unveiled 'Operation Economic Outcast' to block all potential revenue sources for Tehran. The State Department identified the companies as Portease Partners LLP, Sadashiva Overseas Limited, PP Softtech Private Limited, and Prakrutees Infra Impex Private Limited. Sadashiva Overseas imported Iranian petroleum worth approximately USD 69 million, while PP Softtech and Prakrutees Infra each imported products worth USD 25 million. The sanctions broaden secondary sanction risks for entities doing business with Iran. State Department spokesperson Tommy Pigott said the actions target entities enabling Iran's destabilising activities, including attacks on US forces, weapons procurement, and cyber intrusions.