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.
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.
According to the US State Department, 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. 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.
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.
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 State Department said these individuals and entities were sanctioned because they knowingly engaged “in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.”
They were part of 60 individuals, entities, and vessels that were concurrently sanctioned by the US Treasury Department on Monday.