The US has sanctioned four Indian companies and three Indian nationals over their alleged involvement in Iran’s petroleum and petrochemical trade. The action, part of Scott Bessent’s “Operation Economic Outcast,” aims to disrupt Iran’s revenue networks and increase pressure on Tehran.
The United States has imposed sanctions on four India-based companies and three Indian nationals over their alleged involvement in Iran’s petroleum and petrochemical trade. The action is part of the Trump administration’s newly launched “Operation Economic Outcast,” a broader campaign aimed at cutting off Iran’s sources of revenue and increasing economic pressure on Tehran.
U.S. Treasury Secretary Scott Bessent announced Operation Economic Outcast on August 24, 2026, describing it as a major economic campaign against Iran. The U.S. Treasury said the initiative is designed to disrupt Iran’s financial connections and restrict revenue networks supporting the Iranian government.
The latest sanctions were imposed by the U.S. government under this wider campaign. The State Department said the action targets entities and individuals allegedly involved in Iranian petroleum, petrochemical trade, military procurement and related networks.
The four India-based companies named in the latest action are Sadashiva Overseas Limited, PP Softtech Private Limited, Prakrutees Infra Impex India Private Limited and Portease Partners LLP.
According to U.S. authorities, Sadashiva Overseas allegedly imported approximately $69 million worth of Iranian-origin petroleum products between February 2024 and June 2025. Some of those shipments were linked to Bonjoure Commodity FZE, an entity previously designated by Washington.
PP Softtech Private Limited allegedly imported approximately $25 million worth of Iranian-origin petroleum products between January 2024 and June 2025. Prakrutees Infra Impex allegedly imported around $25 million worth of Iranian-origin petroleum products between May 2023 and February 2026. Together, the transactions attributed to these three companies amount to approximately $119 million.
The fourth company, Portease Partners LLP, is an India-based customs broker. U.S. authorities alleged that it facilitated multiple shipments of Iranian petrochemical products into India.
The U.S. also sanctioned three Indian nationals associated with the targeted companies. They are Prashant Garg, identified as a director of PP Softtech, and Indrismiya Ashrafmiya Sheikh and Harish Ramchandra Rangi, identified as designated partners of Portease Partners LLP. The sanctions reflect U.S. government allegations and designations. They should not be presented as a finding by a court that the individuals or companies are criminally guilty.
Operation Economic Outcast represents a significant escalation in Washington’s economic pressure on Iran. The campaign seeks to restrict the Iranian government’s ability to generate, move and access revenue through international trade and financial networks.
The wider sanctions package covers nearly 60 individuals, entities and vessels, including targets connected to Iran’s oil trade, shipping, technology, cryptocurrency and other economic networks.
Bessent has repeatedly said the Treasury Department intends to target networks that help Iran generate or move revenue. The latest campaign continues Washington’s broader maximum-pressure strategy against Tehran.
The sanctions are directed at the named companies and individuals, not India as a country. However, the action could increase compliance and financial risks for Indian businesses that continue to conduct transactions involving Iran.
U.S. sanctions can make international payments, shipping, insurance and other commercial arrangements more difficult for companies dealing with sanctioned entities. Businesses involved in Iran-related trade may therefore face greater scrutiny from banks and international partners.
The move also adds another layer to the complicated economic relationship between India, Iran and the United States. India has its own trade and foreign-policy interests involving Iran, while Indian companies operating internationally may still have to consider the potential consequences of U.S. sanctions.
The latest action shows Washington’s continued effort to restrict Iran’s petroleum revenue and international economic networks. By targeting companies outside Iran that the U.S. alleges are involved in Iranian trade, the Trump administration is signaling that businesses facilitating such transactions could face sanctions.
For the four Indian companies and three Indian nationals named in the latest action, the designations could bring significant restrictions and international compliance challenges. The development also highlights the growing risks for businesses involved in Iran-related petroleum and petrochemical transactions as the United States expands its economic pressure campaign.
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