US Sanctions Six Indian Companies Over Iran Trade

The United States has imposed sanctions on six Indian companies for allegedly trading oil with Iran. These companies are accused of buying and selling Iranian petrochemicals. The US claims that Iran uses this revenue to fuel conflict in the Middle East and support terrorism.

The United States has imposed sanctions on six Indian companies for conducting oil trade with Iran. The US alleges that the Iranian government uses oil revenues to fund terrorists and fuel conflict in the Middle East, as well as to perpetrate atrocities against its own people.

The US Department of State stated that the Iranian government is furthering conflict in the Middle East by raising funds for destabilising activities. Today, the US is taking significant action to halt the flow of revenue used by the Iranian regime to support terrorism abroad and oppress its own people.

On Wednesday, the US Department of State announced sanctions on 20 entities, including six Indian companies, for conducting business with Iran.

Companies Sanctioned

Alchemical Solutions Private Limited (Alchemical Solutions) - The US alleges that this company purchased petrochemical products worth over $84 million from various Iranian companies between January and December 2024.

Global Industrial Chemicals Limited (Global Industrial) - This company is also on the sanctions list, accused of purchasing Iranian products, including methanol, worth over $51 million between July 2024 and January 2025.

Jupiter Dye Chem Private Limited (Jupiter Dye Chem) - This company is also subject to the US ban, accused of purchasing Iranian petrochemical products, including toluene, worth over $49 million between January 2024 and January 2025.

Ramaniklal S Gosalia and Company (Ramaniklal) - This company is accused of purchasing over $22 million worth of Iranian products, including methanol and toluene, between January 2024 and January 2025.

Persistent Petrochem Private Limited - According to the US, this company conducted $14 million worth of business with Iran between October 2024 and December 2024, importing methanol.

Kanchan Polymers - This company conducted $1.3 million worth of business with Iran, importing petrochemical products.

Impact of the Sanctions

All assets and accounts held by these companies in the US will be frozen, effective immediately. Furthermore, no US company or citizen can conduct business or transactions with these entities.

Any company acquiring 50% or more shares in these six companies will also be subject to US sanctions.