US sanctions 4 Indian companies over ties with Iran

The United States has announced economic sanctions on Iran. As a result, the US State Department has sanctioned four Indian companies for their ties with Iran and for purchasing fuel oil from the country. This information was given in a statement issued by the ministry on Monday.

The companies under the ban are 'Portis Partners LLP', 'Sadashiv Overseas Limited', 'PR Softech Private Limited' and 'Prakrutis Infra Impex India Private Limited'.

The Ministry of External Affairs statement said that these four Indian companies are actively involved in various roles related to the import, storage, transfer, sale and cooperation in the export of oil from Iran.

It was also said that the United States has launched an economic warfare campaign against Iran, 'Operation Economic Outcast'. As part of this campaign, the US administration has decided to impose sanctions on all individuals and companies from different countries around the world who are in any way related to Iran's military and energy sector. These four Indian companies have been sanctioned in continuation of that decision.

It is worth noting that President Trump announced the start of an economic campaign against Iran on August 19. In a message posted on his social media platform Truth Social, the US President said in this regard, "No one has given the Islamic Republic of Iran so many opportunities and concessions for a deal except me. It is unfortunate for them that they failed to make a deal. That is why today I am announcing the most devastating economic campaign against Iran. This campaign will be so devastating that no such campaign has been launched against any country before. This will be an economic war and as a result, Iran will be isolated from the international community to an unprecedented extent."

In a Truth Social post, President Trump also warned countries allied with Iran; he said, "I further declare that any country that provides Iran with any form of assistance through its financial institutions, trade, airports, or government agencies (during the campaign) will suffer severe economic consequences. Oil smuggling, commodity exchange lines, cash transfers, currency exchange centers, ship registrations, shell companies - all of these must be stopped now."

Source: ANI