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US Sanctions 4 India-Based Firms Over Iran Oil Trade Under ‘Operation Economic Outcast’

News Snapshot:

The United States has imposed sanctions on four India-based companies and several Indian nationals over their alleged involvement in Iran’s petroleum and petrochemical trade, as Washington intensifies its economic pressure on Tehran under “Operation Economic Outcast.” Indian firms targeted over Iranian oil importsAmong the entities sanctioned is customs broker Portease Partners LLP, which the US State Department accused of facilitating multiple shipments of Iranian petrochemical products into India. Its partners, Indian nationals Indrismiya Ashrafmiya Shekh and Harish Ramchandra Rangi, were also designated. The US separately targeted Sadashiva Overseas Ltd, alleging that the company imported about $69 million worth of Iranian-origin…

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