US sanctions 4 India-based firms over Iranian oil trade
What's the story
The United States has imposed sanctions on four India-based companies and three Indian nationals for their alleged involvement in the Iranian oil and petrochemical trade. The sanctions are part of Washington's broader strategy to disrupt Tehran's global revenue streams, which it calls "Operation Economic Outcast." The US Treasury Department claims that these entities were involved in trading about $119 million worth of Iranian-origin petroleum products.
Sanctioned entities
Companies accused of importing Iranian petroleum products
The companies targeted include Sadashiva Overseas Limited, which is accused of importing $69 million worth of Iranian petroleum products between February 2024 and June 2025.
The imports were allegedly linked to Bonjoure Commodity FZE, a company already sanctioned by Washington.
PP Softtech Private Limited and Prakrutees Infra Impex India Private Limited are also accused of importing $25 million each in Iranian-origin petroleum products.
Individual sanctions
Three Indians also sanctioned
The fourth company, Portease Partners LLP, was sanctioned for allegedly facilitating shipments of Iranian petrochemical products into India.
The three Indian nationals targeted are Prashant Garg, director of PP Softtech; Indrismiya Asharafmiya Shekh; and Harish Ramchandra Rangi from Portease Partners.
The State Department said these individuals and entities were sanctioned because they knowingly engaged "in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran."
Sanction impact
'economic D-Day'
Treasury Secretary Scott Bessent had announced what he called an "economic D-Day" against Iran, threatening economic isolation for countries that continue to engage financially with Tehran.
Bessent called the measures "the single greatest financial offensive ever" against Iran, which would "tighten the noose and block every potential source of revenue."
Washington has previously targeted other India-based companies over alleged Iranian oil dealings, including four firms sanctioned in February and six companies and three Indian nationals targeted in July last year.
Iranian response
Iran vows to withstand US sanctions
Iran has rejected the US sanctions, calling them a threat to international law and the UN charter.
Iranian Economy Minister Ali Madanizadeh said "the government is and was ready and has a two-year plan to manage these events," adding that Tehran had been "waiting for these plans for a long time."
Iranian Parliament Speaker Mohammad Baqer Ghalibaf also dismissed Washington's threats as "big talk," asserting that Iran's trade partners consider such statements meaningless.