The United States has sanctioned four India-based companies and three Indian nationals for their alleged involvement in Iran’s petroleum and petrochemical trade under Washington’s newly launched “Operation Economic Outcast,” aimed at cutting the revenue sources financing the Islamic regime.
The three Indian nationals who featured in Washington’s list are Harish Ramchandra Rangi and Indrismiya Ashrafmiya Shekh, two designated partners of Portease and Prashant Garg of PP Softtech. Because they knowingly engaged “in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran, the State Department said these individuals and entities were sanctioned. Furthermore, Sadashiva Overseas has been accused by Washington of importing Iranian petroleum products worth about $69 million from several companies. PP Softtech and Prakrutees Infra each allegedly imported Iranian petroleum products valued at about $25 million, the statement said.
The four India-based entities targeted in the latest sanctions action are Portease Partners LLP, Sadashiva Overseas Ltd, PP Softtech Pvt Ltd, and Prakrutees Infra Impex India Pvt Ltd, according to the US State Department. Portease Partners, which is a customs broker, has been sanctioned for allegedly facilitating the import of shipments of Iranian petrochemical products to India, the State Department said in a statement. In an effort to hobble Iran’s economy, the United States earlier this week threatened to punish countries that continue to do business with Iran but said it would not impose penalties immediately. Despite the ongoing tensions, the US is beginning to send personnel back to some diplomatic missions in the Middle East that were evacuated or downsized amid tensions with Iran, according to a Reuters report.
