WASHINGTON – The United States on Thursday imposed sanctions on 20 global entities, including six companies based in India, for engaging in trade activities involving Iranian petroleum and petrochemical products — a direct violation of US sanctions policy under Executive Order 13846.
The US Department of State announced the decision and said that the revenue generated from such trades supports Iran’s destabilizing operations across the Middle East, funds international terrorism, and fuels domestic oppression.
“The Iranian regime continues to profit from petroleum sales that fund conflict, terrorism, and internal repression. Today’s actions aim to restrict those financial streams,” said a State Department spokesperson.
Indian Companies faces US sanctions
The six Indian firms named in the sanctions list are alleged to have knowingly conducted substantial transactions involving Iranian-origin petrochemical goods during 2024 and early 2025.
The companies and the alleged trade volumes include:
Alchemical Solutions Pvt. Ltd. – Accused of importing over $84 million worth of Iranian petrochemicals from various sources between January and December 2024.
Global Industrial Chemicals Ltd. – Allegedly involved in transactions exceeding $51 million, including methanol imports, between July 2024 and January 2025.
Jupiter Dye Chem Pvt. Ltd. – Suspected of importing around $49 million worth of petrochemical products such as toluene during the same period.
Ramniklal S Gosalia & Company – Accused of purchasing over $22 million in Iranian petrochemical goods, including methanol and toluene.
Persistent Petrochem Pvt. Ltd. – Allegedly imported Iranian petrochemicals valued at $14 million, including shipments from UAE-based company Bab Al Barsha between October and December 2024.
Kanchan Polymers – Said to have bought over $1.3 million in Iranian polyethylene via Tanais Trading.
All six companies have been designated under Section 3(a)(iii) of Executive Order 13846 for conducting significant business related to Iranian petrochemicals.
The sanctions mean that any assets or property interests linked to these companies in the United States or controlled by US persons are now frozen.
Additionally, any company or entity with 50% or more ownership by a sanctioned party is automatically subject to the same restrictions.
“Any financial or commercial activity by US persons involving these designated entities is strictly prohibited unless authorized by a license issued by OFAC,” the State Department clarified.
This includes providing or receiving any kind of funds, goods, or services connected to the sanctioned companies.
Despite the firm language, the US government emphasized that the goal of such sanctions is not punitive but corrective.
“Our objective is not to punish but to promote a change in behavior that aligns with international norms,” the State Department added.
