US sanctions four Indian firms over Iran oil trade

The United States sanctioned four India-based companies and three Indian nationals for alleged involvement in Iran-related petroleum and petrochemical trade, part of Washington's "Operation Economic Outcast" campaign targeting Iranian military and procurement networks. The State Department accused Portease Partners LLP of facilitating Iranian petrochemical shipments to India, and Sadashiva Overseas of importing about $69 million worth of Iranian petroleum products. PP Softtech and Prakrutees Infra Impex were also sanctioned for similar imports, with combined petroleum purchases linked to the three firms totaling around $119 million. The sanctioned individuals include directors and partners of the companies. The US has previously targeted other Indian firms over Iranian oil dealings, and the latest action aims to restrict Iran's petroleum revenues. The affected companies have not yet commented on the announcement.