NEW DELHI — The United States has imposed sanctions on six Indian companies, accusing them of “knowingly engaging in significant transactions” for the purchase of Iranian petroleum and petrochemical products. The action is part of Washington’s “maximum pressure” campaign against Iran, which it claims uses the revenue from these exports to fund terrorism and “destabilizing activities” in the Middle East.
The U.S. Department of State announced the sanctions on Wednesday, targeting a total of 20 global entities, including companies in the UAE, Turkey, and Indonesia. According to the State Department, the Iranian regime uses the revenue to “fuel conflict… and oppress its own people.”
The six Indian companies facing sanctions are:
- Alchemical Solutions Private Limited: Accused of importing over $84 million worth of Iranian petrochemical products between January and December 2024.
- Global Industrial Chemicals Limited: Alleged to have purchased over $51 million in Iranian petrochemicals, including methanol, between July 2024 and January 2025.
- Jupiter Dye Chem Private Limited: Reportedly imported Iranian products, including toluene, worth over $49 million during the same period.
- Ramniklal S Gosalia and Company: Accused of purchasing over $22 million worth of Iranian petrochemicals, including methanol and toluene.
- Persistent Petrochem Private Limited: Allegedly imported approximately $14 million worth of Iranian petrochemicals, particularly methanol, between October and December 2024.
- Kanchan Polymers: Accused of purchasing over $1.3 million worth of Iranian polyethylene products.
As a result of the sanctions, all assets of these companies in the United States or controlled by U.S. persons are now frozen. American individuals and companies are also prohibited from conducting business with the sanctioned entities. The sanctions also extend to any entity that is 50% or more owned by these companies.
While the Indian government has not officially responded to the sanctions, the Iranian embassy in New Delhi has criticized the U.S., calling the move an attempt to “dictate its will on independent nations” and a form of “economic imperialism.” The sanctions come at a time of escalating trade tensions between the U.S. and India, following President Donald Trump’s recent announcement of a 25% tariff on Indian imports
