IndiaEconomy
US sanctions four India-based entities over Iran petroleum imports
The United States sanctioned four India-based companies and three Indian nationals for engaging in transactions involving Iranian petroleum and petrochemical products.
The United States sanctioned four India-based entities and three individuals for their involvement in importing petroleum and petrochemical products from Iran, according to the US State Department. The action came hours after US Treasury Secretary Scott Bessent announced an operation referred to as 'Operation Economic Outcast'.
The sanctioned entities are Portease Partners, Sadashiva Overseas, PP Softtech, and Prakrutees Infra Impex. The US State Department said the companies were designated for knowingly engaging in significant transactions for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran.
Customs broker Portease Partners, along with its partners Indrismiya Ashrafmiya Sheikh and Harish Ramachandra Rangi, facilitated the import of Iranian petrochemical products. PP Softtech director Prashant Garg was also sanctioned. Sheikh, Rangi, and Garg are Indian nationals.
Sadashiva Overseas imported Iranian-origin petroleum products worth $69 million from multiple companies. Further details about PP Softtech and Prakrutees Infra Impex were not provided in the announcement.
IndiaEconomy
US sanctions four India-based entities over Iran petroleum imports
The United States sanctioned four India-based companies and three Indian nationals for engaging in transactions involving Iranian petroleum and petrochemical products.
The United States sanctioned four India-based entities and three individuals for their involvement in importing petroleum and petrochemical products from Iran, according to the US State Department. The action came hours after US Treasury Secretary Scott Bessent announced an operation referred to as 'Operation Economic Outcast'.
The sanctioned entities are Portease Partners, Sadashiva Overseas, PP Softtech, and Prakrutees Infra Impex. The US State Department said the companies were designated for knowingly engaging in significant transactions for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran.
Customs broker Portease Partners, along with its partners Indrismiya Ashrafmiya Sheikh and Harish Ramachandra Rangi, facilitated the import of Iranian petrochemical products. PP Softtech director Prashant Garg was also sanctioned. Sheikh, Rangi, and Garg are Indian nationals.
Sadashiva Overseas imported Iranian-origin petroleum products worth $69 million from multiple companies. Further details about PP Softtech and Prakrutees Infra Impex were not provided in the announcement.