US sanctions four Indian firms, three nationals over Iran oil trade

The United States has imposed sanctions on four India-based companies and three Indian nationals accused of facilitating significant transactions involving Iranian petroleum and petrochemical products, as Washington steps up economic pressure on Tehran.

The US State Department said the targeted companies are Portiz Partners LLP, Sadashiva Overseas Ltd, PP Softtech Pvt Ltd and Prakrutij Infra Impex India Pvt Ltd.

The sanctioned individuals are Harish Ramchandra Rangi and Indrismia Ashrafmia Sheikh, partners at Portiz Partners, and Prashant Garg, associated with PP Softtech.

According to the State Department, Portiz Partners, a customs brokerage firm, helped facilitate imports of Iranian petrochemical products into India. Sadashiva Overseas was accused of importing Iranian petroleum products worth about $69 million, while the other two companies allegedly handled imports valued at around $25 million.

Washington said the individuals and companies knowingly engaged in significant transactions involving the purchase, acquisition, sale, transport or marketing of Iranian petroleum and petrochemical products.

Separately, the US Treasury Department sanctioned 60 additional individuals, entities and vessels as part of its broader campaign against Iran’s energy trade.

The sanctions come amid heightened US-Iran tensions, even as Washington has begun restoring staffing at some diplomatic missions in the Middle East that had previously been evacuated or downsized.