The United States has imposed sanctions on at least six Indian companies for allegedly participating in the trade of Iranian petroleum and petrochemical products, as part of its broader efforts to enforce sanctions against Iran.
In addition to the Indian firms, the US Department of State announced sanctions on 20 other entities based in Turkey, the United Arab Emirates, China, and Indonesia. The move is part of Washington’s ongoing “maximum pressure” campaign against Tehran’s oil export network.
“Significant Involvement in Iranian Oil Trade”
“The Department of State is imposing sanctions on 20 entities for their involvement in the trade of Iranian petroleum, petroleum products, or petrochemical products and is identifying 10 vessels as blocked property,” — US Department of State statement, Thursday.
The sanctioned entities include terminal operators, vessel management firms, and wholesale buyers that allegedly facilitated the export and purchase of Iranian-origin oil and petrochemicals.
Indian Firms Accused of Major Purchases
Among the Indian companies named are Alchemical Solutions Private Limited, which is accused of importing Iranian petrochemicals, and Global Industrial Chemicals Limited, which allegedly purchased over USD 51 million worth of Iranian products, including methanol, between July 2024 and January 2025.
Other Indian firms reportedly involved include:
- Jupiter Dye Chem Private Limited, accused of importing Iranian-origin products.
- Ramniklal S Gosalia and Company said to have bought over USD 22 million worth of petrochemicals, including methanol and toluene.
- Kanchan Polymers, which reportedly imported and purchased over USD 1.3 million worth of Iranian petrochemical products between February and July 2024 from UAE-based Tanais Trading.
Global Network Under Scrutiny
The US State Department emphasized that the sanctions target a broad international network of companies that help facilitate Iran’s oil and petrochemical exports. The effort is also aimed at disrupting Iran’s “shadow fleet” — vessels and intermediaries allegedly used to bypass international restrictions.
“Multiple companies in India, the UAE, Turkey, and Indonesia are being designated for their significant sales and purchases of Iranian-origin petrochemical products,” — US Department of State.
US Maintains Pressure on Iran’s Revenue Streams
The United States has long accused Iran of using oil and petrochemical export revenues to fund what it describes as “destabilising activities” in the Middle East, including support for terrorist groups.
“As President Trump has said, any country or person who chooses to purchase Iranian oil or petrochemicals exposes themselves to the risk of U.S. sanctions and will not be allowed to conduct business with the United States,” — US State Department statement.
The latest sanctions underscore Washington’s intent to continue tightening restrictions on global trade with Iran, especially in sectors critical to its economy.
