The Donald Trump administration has imposed sanctions on four India-based companies over their alleged involvement in the trade of Iranian oil and petrochemical products worth around USD 119 million. The move is part of Washington’s wider effort to cut off Iran’s access to international revenue and financial networks.
The US Treasury Department also announced sanctions against three Indian nationals in connection with the transactions. The action was taken under the Trump administration’s “Operation Economic Outcast” initiative.
According to the Treasury, Sadashiva Overseas Limited, based in India, imported nearly $69 million worth of petroleum products of Iranian origin between February 2024 and June 2025. The department said some of these shipments were connected to Bonjoure Commodity FZE, which had previously been placed under US sanctions.
Two other Indian companies, PP Softtech Private Limited and Prakrutees Infra Impex India Private Limited, were accused of importing Iranian-origin petroleum products worth roughly $25 million each. Together, the three companies accounted for about $119 million in imports identified by the US authorities.
Washington also sanctioned Portease Partners LLP, an India-based customs brokerage firm. The US alleged that the company helped facilitate several shipments of Iranian petrochemical products to India.
Alongside the companies, the US Treasury designated three Indian nationals. Prashant Garg, a director at PP Softtech, was among those sanctioned. Indrismiya Asharafmiya Shekh and Harish Ramchandra Rangi, both associated with Portease Partners, were also targeted.
US Economic D-Day Against Iran
US Treasury Secretary Scott Bessent has described the latest sanctions against Iran as “economic D-Day”, warning that the measures are aimed at putting greater financial pressure on Tehran.
Bessent said the new restrictions would “tighten the noose” around the Iranian government as Washington steps up efforts to cut Iran off from international sources of revenue. The US has also made it clear that businesses engaging in economic dealings with Iran could face sanctions.
The latest action comes at a sensitive time, with a fragile ceasefire between the US and Iran still holding but no long-term agreement in place. Washington has continued to target companies accused of helping Iran sell oil and petrochemical products despite the temporary halt in hostilities.
India-based businesses have faced similar action in the past. The US sanctioned four Indian companies over alleged Iranian oil links in February, while another six companies and three Indian nationals were placed under sanctions in July last year.
The new sanctions are not limited to India. The US Treasury has also targeted around 20 companies operating from China and Hong Kong, along with four Chinese nationals.
In total, nearly 60 individuals, companies and vessels were included in the latest sanctions announced by Washington as it intensifies its campaign to restrict Iran’s financial and commercial networks.
from World – Latest News, Breaking News, LIVE News, Top News Headlines, Viral Video, Cricket LIVE, Sports, Entertainment, Business, Health, Lifestyle and Utility News | India.Com https://ift.tt/uaFIKyi
