Indian Defense
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US sanctions four India-based firms over Iran oil trade
New Age Online 25 August, 2026, 18:45
New Age collage
Four India-based companies have been sanctioned by the US for importing petroleum and petrochemical products from Iran, reported The Telegraph Online citing PTI.
US Treasury Secretary Scott Bessent on Monday announced ‘Operation Economic Outcast’, which essentially involved new sanctions that aim to block all potential sources of revenue for Iran, added the report published on Tuesday.
The US has also told countries to cut economic ties with Tehran or face retaliation.
Bessent described it as an unprecedented campaign to sever Iran’s financial lifelines. It broadens the risk of secondary sanctions for entities—which can be countries, businesses or organisations—continuing to do business with Tehran.
Among the four ‘India-based companies’ facing action is a customs broker identified as Portease Partners LLP and its partners Indrismiya Ashrafmiya Sheikh and Harish Ramachandra Rangi.
Other Indian companies facing action are Sadashiva Overseas Limited; PP Softtech Private Limited, along with its director Prashant Garg; and Prakrutees Infra Impex Private Limited.
New Age Online 25 August, 2026, 18:45
New Age collage
Four India-based companies have been sanctioned by the US for importing petroleum and petrochemical products from Iran, reported The Telegraph Online citing PTI.
US Treasury Secretary Scott Bessent on Monday announced ‘Operation Economic Outcast’, which essentially involved new sanctions that aim to block all potential sources of revenue for Iran, added the report published on Tuesday.
The US has also told countries to cut economic ties with Tehran or face retaliation.
Bessent described it as an unprecedented campaign to sever Iran’s financial lifelines. It broadens the risk of secondary sanctions for entities—which can be countries, businesses or organisations—continuing to do business with Tehran.
Among the four ‘India-based companies’ facing action is a customs broker identified as Portease Partners LLP and its partners Indrismiya Ashrafmiya Sheikh and Harish Ramachandra Rangi.
Other Indian companies facing action are Sadashiva Overseas Limited; PP Softtech Private Limited, along with its director Prashant Garg; and Prakrutees Infra Impex Private Limited.
