The United States has imposed sanctions on six Indian companies for allegedly engaging in the trade of Iranian petroleum and petrochemical products, violating American sanctions under Executive Order 13846.
The sanctions, announced by the US Department of State on July 31, are part of a broader action against 20 global entities.
According to the US government, these companies conducted transactions worth millions of dollars with Iranian suppliers, despite ongoing sanctions designed to curb Iran’s revenue streams, which Washington claims are used to fund terrorism and regional conflict.
The Indian firms named are:
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Alchemical Solutions Pvt. Ltd. – Allegedly purchased over $84 million in Iranian petrochemical products during 2024.
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Global Industrial Chemicals Ltd. – Accused of importing over $51 million in Iranian methanol and other goods.
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Jupiter Dye Chem Pvt. Ltd. – Reportedly bought Iranian-origin petrochemicals worth $49 million.
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Ramniklal S Gosalia and Company – Allegedly imported $22 million in Iranian methanol and toluene.
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Persistent Petrochem Pvt. Ltd. – Said to have imported $14 million in Iranian petrochemicals via UAE intermediaries.
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Kanchan Polymers – Accused of purchasing $1.3 million in polyethylene from Iran.
Under the sanctions, any assets these firms hold within the United States or under US jurisdiction are frozen. Additionally, all US-based entities are prohibited from conducting business with the sanctioned firms.
The Department of State clarified that the objective of the sanctions is not punitive, but to promote a change in behavior and discourage continued support for Iran’s petroleum sector.
The Indian government has yet to issue an official response.
