US sanctioned 6 Indian firms over Iran petroleum purchases
The United States has sanctioned at least six Indian companies for allegedly engaging in the trade of Iranian petroleum and petrochemical products.
The United States has sanctioned at least six Indian companies for allegedly engaging in the trade of Iranian petroleum and petrochemical products, as part of a sweeping action against 20 global entities. The move is part of Washington’s ongoing effort to tighten economic pressure on Tehran.
The US Department of State announced the sanctions on Wednesday, alleging that the Indian companies knowingly conducted “significant transactions" involving the purchase and marketing of Iranian petroleum products—actions deemed to be in violation of US sanctions on Iran.
In a statement issued by the State Department, the US said the Iranian regime “continues to fuel conflict in the Middle East to fund its destabilizing activities." It added, “Today, the United States is taking action to stem the flow of revenue that the regime uses to support terrorism abroad, as well as to oppress its own people."
The 20 targeted entities, along with 10 vessels identified as blocked property, are being sanctioned under Executive Order 13846. The order reimposes a range of sanctions against Iran in connection with its energy sector, following the US withdrawal from the 2015 nuclear agreement.
The Indian companies named in the sanctions include Kanchan Polymers, Alchemical Solutions Pvt. Ltd., Ramniklal S. Gosalia and Company, Jupiter Dye Chem Pvt. Ltd., Global Industrial Chemicals Ltd., and Persistent Petrochem Pvt. Ltd.
The Indian firms are among a broader list that includes businesses operating across the petroleum supply chain, including brokers, shipping companies, and intermediaries accused of facilitating Iranian oil sales.
Iran Reacts
Iran has accused the United States of weaponising the global economy through its continued use of sanctions against sovereign nations like Iran and India. In a post on X, the Iranian government described these sanctions as coercive and discriminatory, claiming they are designed to suppress independent development and enforce American geopolitical interests.
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