US Sanctions Four India-Based Firms Over Iran Petroleum Imports

The U.S. State Department sanctioned four India-based companies on August 24, 2026, for importing petroleum and petrochemical products from Iran in violation of U.S. economic policies.

The sanctioned entities include Portease Partners LLP, Sadashiva Overseas Limited, PP Softtech Private Limited, and Prakrutees Infra Impex Private Limited, which collectively imported products worth approximately $119 million.

U.S. Treasury Secretary Scott Bessent announced 'Operation Economic Outcast' to block Iranian revenue, warning that entities continuing to trade with Tehran face the risk of secondary U.S. sanctions.