WASHINGTON, DC – The U.S. Department of State has announced sanctions against six Indian companies for allegedly trading in Iranian-origin petrochemical products, a move the Trump administration says is aimed at cutting off financial lifelines to the Iranian regime.
The Indian firms are among 20 global entities targeted in the latest round of sanctions unveiled July 29. The State Department said the companies violated U.S. laws prohibiting trade with Iran’s energy sector, which Washington claims helps fund terrorism and regional instability.
“These entities have engaged in Iranian petroleum, petroleum products, or petrochemical trade,” the department said. “The Iranian regime continues to fuel conflict in the Middle East to fund its destabilizing activities. Today, the United States is taking action to stem the flow of revenue that the regime uses to support terrorism abroad, as well as to oppress its own people.”
Alchemical Solutions Private Limited faces the largest allegations, with U.S. authorities accusing it of importing more than $84 million worth of Iranian petrochemical products between January and December 2024. Global Industrial Chemicals Limited was named for similar violations, with reported imports exceeding $51 million during a seven-month period ending January 2025.
Jupiter Dye Chem Private Limited, another Indian petrochemical trader, is alleged to have imported over $49 million in Iranian-origin materials, including toluene. Meanwhile, Ramniklal S Gosalia And Company is accused of facilitating over $22 million in similar trade, primarily involving methanol and toluene.
Persistent Petrochem Private Limited allegedly arranged shipments of roughly $14 million in Iranian petrochemicals between October and December 2024, including transactions with a UAE-based commodities firm. Kanchan Polymers is reported to have imported polyethylene worth more than $1.3 million from a company linked to Iran.
The sanctions freeze any assets these firms hold in the United States or under the control of U.S. persons. The restrictions also extend to any entity that is at least 50 percent owned by a sanctioned party.
@India-West News Desk
