The Donald Trump administration imposed restrictions on four companies based in India that were involved in trading oil and petrochemical products with Iran. The US Department of the Treasury carried out this major measure in connection with transactions worth approximately $119 million under the name 'Operation Economic Outcast.' Three Indian citizens were also affected as part of this operation.
The US Department of the Treasury stated that these new sanctions are part of a broader economic attack on Iran's financial ties worldwide. According to the US Department of the Treasury, the India-based company Sadashiv Overseas Limited imported Iranian petroleum products worth approximately $69 million between February 2024 and June 2025. Part of these shipments was linked to the company Bonjor Commodity FZE, which was already under Washington's ban.
Furthermore, PP Softtech Private Limited and Prakritis Infra Impex India Private Limited are accused of importing Iranian petroleum products worth about $25 million each. Thus, the total volume of imports made by these three companies reached approximately $119 million.
The fourth company, Porteege Partners LLP, was sanctioned for assisting in the delivery of several batches of petrochemical products from Iran to India. The US also targeted three Indian citizens: Prashant Garg, director of PP Softtech, as well as Idrisimia Ashrammi Sheikh and Harish Ramchandra Rangi from Porteege Partners.
Previously, the US warned countries around the world that they must comply with established deadlines to cease activities supporting Tehran, or they would face sanctions. US Treasury Secretary Scott Bassett stated that the goal is to stop the economic channels that Iran uses to generate revenue and circumvent American restrictions.