After Russia Tariff Penalty, Trump Administration Sanctions 6 India-Based Companies For Trading Oil With Iran

(MENAFN- Live Mint) The United States government on July 30 announced santions against“entities that have traded in Iran's petroleum”, affecting at least six India-based companies, besides seven others, an official release showed.

It stated that 13 entities, which have“engaged in the trans-shipment, sale, and purchase of Iranian-origin petrochemicals” are being targetted. Besides India and Iran's own businesses, others impacted include companies based in China, Indonesia, Turkiye, and the United Arab Emirates (UAE).

The Trump administration also sanctioned 20 entities engaged in Iran's crude oil business.“The Department of State is imposing sanctions on 20 entities engaged in Iranian petroleum, petroleum products, or petrochemical trade and is identifying 10 vessels as blocked property,” the statement read.

Trump administration sanctions Iran's petroleum industry

The Trump administration said the move would“stem the flow of revenue that the (Iranian) regime uses to support terrorism abroad, as well as to oppress its own people”. It claimed that Iran“continues to fuel conflict in the Middle East to fund its destabilising activities”.

It added that the action against 13 associated businesses“across multiple jurisdictions” comes as Iran's petrochemical industry and exports“are a critical sector of the Iranian economy and have grown in recent years to generate billions of dollars in illicit funds for Iran's destabilising activities”.

Which Indian companies have been targetted? Check list

• KANCHAN POLYMERS is an India-based company that has imported and purchased over USD 1.3M worth of Iranian-origin petrochemical products, including polyethylene, from TANAIS TRADING.

KANCHAN POLYMERS is being designated pursuant to section 3(a)(iii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.

• ALCHEMICAL SOLUTIONS PRIVATE LIMITED (ALCHEMICAL SOLUTIONS) is an India-based petrochemical trading company that has imported and purchased Iranian-origin petrochemical products valued at over USD 84M from multiple companies between January and December 2024.

ALCHEMICAL SOLUTIONS is being designated pursuant to section 3(a)(iii) of E.Ο. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.

• RAMNIKLAL S GOSALIA AND COMPANY (RAMNIKLAL) is an India-based petrochemical company that imported and purchased Iranian-origin petrochemical products valued at over USD 22M, including methanol and toluene, from multiple companies between January 2024 and January 2025.

RAMNIKLAL is being designated pursuant to section 3(a)(iii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.

• JUPITER DYE CHEM PRIVATE LIMITED (JUPITER DYE CHEM) is an India-based petrochemical trading company that has imported and purchased Iranian-origin petrochemical products, including toluene, valued at over USD 49M from multiple companies between January 2024 and January 2025

JUPITER DYE CHEM is being designated pursuant to section 3(a)(iii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.

• GLOBAL INDUSTRIAL CHEMICALS LIMITED (GLOBAL INDUSTRIAL) is an India-based company that has imported and purchased Iranian-origin petrochemical products, including methanol, valued at over USD 51M from multiple companies, between July 2024 and January 2025.

GLOBAL INDUSTRIAL is being designated pursuant to section 3(a)(iii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.

• PERSISTENT PETROCHEM PRIVATE LIMITED is an India-based company that has imported approximately USD 14 million worth of shipments containing Iranian-origin petrochemicals, such as methanol, from multiple companies, including from BAB AL BARSHA, with shipping dates between October 2024 and December 2024.

PERSISTENT is being designated pursuant to section 3(a)(iii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.

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