WASHINGTON : The United States has sanctioned four India-based companies over their involvement in the trade of Iranian petroleum and petrochemical products, adding fresh pressure on Indian businesses dealing with Tehran.
The companies named by the US are Portease Partners LLP, Sadashiva Overseas Limited, PP Softtech Private Limited and Prakrutees Infra Impex India Private Limited.
The action is part of a wider US campaign targeting Iran’s oil revenues and other sources of income.
Portease Partners, a customs broker, was accused of facilitating shipments of Iranian petrochemical products into India. Two of its partners, Indrismiya Ashrafmiya Sheikh and Harish Ramachandra Rangi, were also named in the US action.
The US said Sadashiva Overseas imported about $69 million worth of Iranian-origin petroleum products between February 2024 and June 2025.
PP Softtech and Prakrutees Infra were each accused of importing Iranian petroleum products worth about $25 million. The transactions cited by Washington took place over different periods between 2023 and 2026.
The four companies were accused of knowingly taking part in significant transactions involving Iranian petroleum or petroleum products. The sanctions can restrict their access to the US financial system and block assets subject to US jurisdiction.
The action comes as India’s trade with Iran has fallen sharply. India’s bilateral trade with Iran was about $1.6 billion in 2025-26, down from around $17 billion in 2018-19.
Indian exports to Iran include rice, tea, medicines and other goods. Iran has traditionally been an important source of energy products for India.
However, according to report, the latest sanctions do not amount to a blanket ban on all Indian trade with Iran. But companies involved in transactions that Washington considers sanctionable now face greater financial and operational risks.
Oil remains the larger concern for the Indian economy, India imports more than 85% of the crude oil it consumes. Any disruption to Iranian or wider Middle Eastern oil supplies can push up international crude prices and increase freight, insurance and import costs.
India’s crude oil import bill rose to $13.7 billion in July, about 41% higher than a year earlier. Imports increased 13% to 21.4 million tonnes, while the average price of India’s crude basket rose to $82.04 a barrel, from $70.95 a year earlier.
The wider conflict around the Middle East has also pushed up shipping and insurance costs for crude cargoes.
Oil prices eased on Tuesday, with Brent crude falling more than 3% to around $89.20 a barrel. The rupee strengthened to about ₹95.41 against the US dollar.
