US sanctions 4 Indian firms, 3 nationals over Iran trade under Operation Economic Outcast

Mangalore Today News Network

US, Aug 26, 2026: The United States has sanctioned four India-based companies and three Indian nationals over their alleged involvement in the trade of Iranian petroleum and petrochemical products, as Washington steps up economic pressure on Tehran under its new ‘Operation Economic Outcast’ campaign.

The four companies named by the US State Department are Portease Partners LLP, Sadashiva Overseas Ltd, PP Softtech Pvt Ltd and Prakrutees Infra Impex India Pvt Ltd. The three Indian nationals designated by Washington are Indrismiya Ashrafmiya Shekh and Harish Ramchandra Rangi of Portease Partners, and Prashant Garg of PP Softtech.

The measures form part of a wider US action targeting nearly 60 entities, individuals and vessels allegedly linked to Iran’s military activities, procurement networks and petroleum and petrochemical trade.

Indian Firms Targeted Over Iranian Oil Trade

According to the US State Department, Portease Partners, an India-based customs broker, facilitated “multiple shipments of Iranian petrochemical products to India".

Washington alleged that Sadashiva Overseas imported around $69 million worth of Iranian-origin petroleum products between February 2024 and June 2025.

PP Softtech was accused of importing around $25 million worth of Iranian-origin petroleum products between January 2024 and June 2025. Prakrutees Infra, meanwhile, allegedly imported Iranian petroleum products worth around $25 million between May 2023 and February 2026.

The US said the companies were designated under Executive Order 13846 for knowingly engaging in significant transactions involving Iranian petroleum or petrochemical products.

US Expands Economic Pressure On Tehran

The latest measures come as Washington seeks to choke off revenue streams that it says support Iran’s military and other activities.

The State Department said the sanctions were aimed at “restricting the revenue that the Iranian regime uses to attack its neighbours, support terrorism abroad," and other activities.

The US has also targeted Iran’s petroleum shipping networks, including vessels and international intermediaries involved in transporting Iranian crude, petroleum products and petrochemicals.

US Treasury Secretary Scott Bessent announced the new campaign as ‘Operation Economic Outcast’ on Monday, describing it as an effort to sever Iran’s financial connections around the world.

“Our goal is to sever every economic lifeline that sustains this tyrannical regime," Bessent said.

The US has also warned governments and businesses worldwide of the risks of dealing with sanctioned Iranian entities as Washington broadens its secondary sanctions campaign.