On Wednesday, the US Department of State sanctioned 20 entities for trading with Iran. Among the 20 entities, 6 are Indian companies that engaged in Iranian Petroleum, Petroleum products, or petrochemical trade. This violated American sanctions on Iran under Executive Order 13846. The US claims that the Iranian regime uses revenue to fuel conflict in the Middle East and fund terrorism in the region.
In a statement the US Department of State spokesperson said, “The Iranian regime continues to fuel conflict in the Middle East to fund its destabilising 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.”
Between January 2024 and January 2025, the US accused several Indian petrochemical firms of violating sanctions by importing Iranian-origin products. All were designated under Section 3(a)(iii) of Executive Order 13846 for knowingly engaging in significant transactions involving Iranian petrochemicals.
Alchemical Solutions faces the largest allegations, with imports worth over $84 million. Global Industrial Chemicals allegedly imported over $51 million, including methanol, while Jupiter Dye Chem is accused of bringing in over $49 million, including toluene. Ramniklal S Gosalia and Company reportedly imported $22 million worth of methanol and toluene.
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Persistent Petrochem allegedly imported $14 million in petrochemicals, including from UAE-based Bab Al Barsha. Kanchan Polymers is said to have imported $1.3 million worth of polyethene from Tanais Trading.
The US Department of State also added to its statement that the aim of these sanctions is “not to punish, but to bring about a positive change in behaviour.”
