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[INTERNATIONAL] · United States, India, Iran · 12 sources

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US sanctions four Indian firms and three citizens over Iran oil trade

The United States has imposed sanctions on four India-based companies and three Indian nationals for their alleged involvement in the trade of Iranian petroleum and petrochemical products. This action is part of a new strategic campaign titled ‘Operation Economic Outcast’, aimed at cutting off revenue streams that support the Iranian government.

The sanctioned entities include Sadashiva Overseas Limited, PP Softtech Private Limited, Prakrutees Infra Impex India Private Limited, and the customs broker Portease Partners LLP. The US State Department alleges these companies participated in transactions totaling approximately $119 million. Specifically, Sadashiva Overseas is accused of importing $69 million in products, while PP Softtech and Prakrutees Infra are linked to imports valued at roughly $25 million each.

In addition to the corporate entities, the US has targeted three individuals: Indrismiya Ashrafmiya Shekh and Harish Ramchandra Rangi, both partners of Portease Partners, and Prashant Garg, a director at PP Softtech. The broader Treasury action also includes approximately 60 other individuals, entities, and vessels to further pressure Iran’s economic and financial networks.

Entities

India · Iran · Portease Partners LLP · Sadashiv Overseas · Sadashiva Overseas Limited · Scott Bessent · United States Department of State · United States Department of the Treasury · United States government

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