00:01Washington has opened a new front in its economic campaign against Iran,
00:06and this time, India-based companies and Indian nationals are in the crosshairs.
00:11The United States has sanctioned four India-based firms and three Indian nationals
00:17over their alleged involvement in Iran's petroleum and petrochemical trade.
00:22The action comes under President Donald Trump's newly launched Operation Economic Outcast.
00:28Today, at President Trump's direction, the United States Treasury has begun Operation Economic Outcast,
00:36an unprecedented campaign against the Islamic Republic of Iran and its enablers.
00:43In the Second World War, D-Day marked the historic beginning of a campaign with our allies
00:50to target and drive the enemy from its positions, including those in third countries.
00:57Today, in that same spirit, we are launching an economic onslaught against Iran's financial connections around the globe.
01:07Around the globe.
01:09Washington says the campaign is designed to cut off the money flowing into Iran
01:14and target the networks that help sustain its economy.
01:17But the latest sanctions could create a new problem far beyond Tehran.
01:22They put India's commercial links with Iran directly under pressure from Washington.
01:27The four India-based companies named by the United States are PortEase Partners LLP,
01:34Sadashiva Overseas Ltd,
01:37PP SoftTech PVT Ltd,
01:40and Prakruti's Infra Impacts India PVT Ltd.
01:44Washington alleges that these companies were involved in significant transactions connected to Iranian petroleum and petrochemical products.
01:53PortEase Partners, a customs broker, was accused by the State Department of facilitating imports of Iranian petrochemical products into India.
02:03The other companies were accused of purchasing or importing Iranian petroleum products worth tens of millions of dollars.
02:10According to the U.S. State Department,
02:13Sadashiva Overseas allegedly imported Iranian petroleum products worth approximately $69 million from several companies.
02:23PP SoftTech was accused of importing around $25 million worth of Iranian petroleum products.
02:30Prakruti's Infra Impacts was also accused of transactions valued at roughly $25 million.
02:36Washington says the companies were sanctioned because they knowingly engaged in significant transactions involving the purchase,
02:45acquisition, sale, transportation, or marketing of Iranian petrochemical products.
02:51The latest sanctions also target three Indian nationals.
02:55They include Harish Ramachandra Rangi and Indrizmiya Ashrafmiya Sheikh,
03:01identified as designated partners of PortEase Partners.
03:04The third individual is Prashant Garg, associated with PP SoftTech.
03:10Their inclusion shows how far Washington's new strategy reaches.
03:15The latest action comes as Washington dramatically expands its economic pressure on Iran.
03:21More than 60 individuals, companies, and vessels were sanctioned in the broader operation announced by the United States.
03:28The campaign is aimed at cutting off Iranian revenue streams and putting pressure on the financial and commercial networks supporting
03:36Tehran.
03:37For India, however, the situation is particularly sensitive.
03:41India has maintained important economic and energy ties with Iran despite years of American sanctions.
03:48The latest sanctions could therefore become a test of the relationship between Washington and New Delhi.
03:54The United States wants international partners to help isolate Iran economically.
04:00India, meanwhile, has its own energy requirements and long-standing strategic interests in the region.
04:06That creates a difficult balancing act.
04:09Indian companies must now consider whether continued dealings with Iranian petroleum suppliers could expose them to American sanctions.
04:18The latest sanctions send a powerful warning far beyond the seven Indian individuals and companies named in this action.
04:26Washington is effectively telling businesses around the world that transactions involving Iran's petroleum economy could come with a heavy price.
04:36For Tehran, the goal is to choke off revenue.
04:39For Washington, the strategy is economic pressure without relying solely on military force.
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