US sanctions 6 Indian companies over Iran petroleum purchases
The United States has imposed sanctions on six Indian firms accused of purchasing and trading Iranian petroleum and petrochemical products.
The announcement came from the US Department of State on Wednesday, which revealed that a total of 20 global entities were penalized for their involvement in Iranian petrochemical transactions. Washington said these measures are part of its effort to cut off Iran’s revenue streams that allegedly fund terrorism and destabilizing activities across the Middle East.
A State Department spokesperson said, “The Iranian regime continues to fuel conflict in the region and oppress its own people. Today’s sanctions target the financial pipelines that enable such activities.”
Among the six Indian firms, Alchemical Solutions Private Limited faces the most serious allegations, accused of importing over $84 million worth of Iranian petrochemical products between January and December 2024. Global Industrial Chemicals Limited allegedly imported methanol and other petrochemicals worth $51 million during July 2024–January 2025. Jupiter Dye Chem Private Limited, known for trading chemicals, reportedly brought in Iranian-origin toluene and other products valued at $49 million.
Additionally, Ramniklal S Gosalia and Company is accused of importing Iranian methanol and toluene worth $22 million, while Persistent Petrochem Private Limited allegedly sourced around $14 million in petrochemical products, partly through UAE-based intermediary Bab Al Barsha. Kanchan Polymers reportedly imported Iranian polyethylene worth $1.3 million through Tanais Trading.
These sanctions come amid Washington’s intensified crackdown on companies allegedly circumventing restrictions on Iran’s energy sector. Analysts see this as part of a broader US strategy to pressure Tehran amid stalled nuclear talks and regional tensions involving Israel, Lebanon, and Yemen. The action could also affect India-US economic ties, as New Delhi has historically maintained energy cooperation with Iran despite Western sanctions.
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