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US Imposes Sanctions on Six Indian Petrochemical Firms
The Indian firms will face sanctions under a 2018 Executive order signed by US President Donald Trump. (Representational image)
The United States has imposed sanctions on more than a dozen international companies, including six based in India, for trading in Iranian petrochemical products.
These Indian companies are being sanctioned under a 2018 Executive Order that blocks all property and interests in property held by the designated entities within the United States.
The action is part of broader efforts to restrict Iran’s energy exports, a key source of the country’s foreign exchange earnings.
According to the US State Department, the six Indian companies collectively conducted $221 million worth of transactions involving Iranian petrochemicals in 2024 and 2025. The firms include Kanchan Polymers, Alchemical Solutions, Ramniklal, Jupiter Dye Chem, Global Industrial, and Persistent Petrochem Private Limited.
Two of the Indian companies engaged in business with entities in the United Arab Emirates, which have also been targeted, along with companies in Turkey, Indonesia, and China.
Earlier this month, the US sanctioned Sai Saburi Consulting, an Indian firm based in New Delhi, for facilitating Iran’s oil trade in violation of existing sanctions. In February, four other Indian firms — Flux Maritime LLP, BSM Marine LLP, Austinship Management Pvt Ltd, and Cosmos Lines Inc — were also sanctioned for similar activities.