6 Indian firms sanctioned by US over Iran petroleum trade
The US has imposed sanctions against six India-based companies for their alleged involvement in Iranian petroleum, petroleum products, or petrochemicals trade.
These were part of broader actions involving around twenty companies based in Türkiye, the UAE, etc involved in the Iranian-origin oil trade. The sanctions were announced on Wednesday.
“Today’s actions underscore our resolve to target those who enable Iran’s illicit oil and petrochemical trade and to cut off the regime’s means of funding its destabilising activities,” the State Department said.
The targeted firms include Kanchan Polymers, Alchemical Solutions, Ramniklal S Gosalia and Company, Jupiter Dye Chem, Global Industrial Chemicals, and Persistent Petrochem.
“All property and interests in property of the designated persons that are in the United States or in the possession or control of US persons are blocked,” the State Department said.
Under Executive Order 13846, the actions also block any entity that is 50 per cent or more owned by the sanctioned companies.
The sanctions are part of the US action to counter Iran’s shadow fleet of vessels and intermediaries that help transport and market Iranian oil and petrochemical products.
“The Iranian regime continues to fuel conflict in the Middle East to fund its destabilizing activities. 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 department said.
Iran’s oil and petrochemical exports are enabled by a network of such illicit shipping facilitators in multiple jurisdictions who, through obfuscation and deception, load and transport Iranian oil and petrochemicals for sale to buyers in third countries, it added.
The vessels managed by these companies have moved millions of barrels of Iranian crude oil, petroleum products, and petrochemical products and play a key role in the Iranian export supply chain. They have also regularly engaged in dark activity and other deceptive shipping practices, endangering other vessels and trade flows, it said.
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Published on July 31, 2025
