The United States has imposed sanctions on four India-based companies and three Indian nationals over alleged trade involving Iranian oil and petrochemical products worth around $119 million.
According to US authorities, Sadashiva Overseas Limited imported about $69 million worth of Iranian-origin petroleum products between February 2024 and June 2025. PP Softtech Private Limited and Prakrutees Infra Impex India Private Limited were each accused of importing around $25 million worth of such products.
Portease Partners LLP, an India-based customs broker, was also sanctioned for allegedly facilitating shipments of Iranian petrochemical products into India.
Three Indian nationals were targeted in the latest action, including PP Softtech director Prashant Garg and Portease partners Indrismiya Asharafmiya Shekh and Harish Ramchandra Rangi.
The sanctions form part of Washington’s broader campaign to restrict Iran’s access to international revenue and financial networks. US officials have warned that businesses and countries engaging economically with Tehran could face penalties.
The latest measures come amid continued tensions between the US and Iran despite a fragile ceasefire. Washington has previously sanctioned other India-based companies over alleged Iranian oil dealings.
Iran has rejected the sanctions, calling the US pressure campaign a violation of international law. Iranian officials have said the country is prepared to withstand further economic restrictions and maintain its international trade relationships.
The latest action could also affect oil market sentiment as traders assess the potential impact of sanctions on Iranian exports and regional trade routes.
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