Only a day after the U.S. President Donald Trump levied 25% tariffs on Indian imports, the U.S. Department of State placed sanctions on at least six Indian firms. The companies are among 20 international entities listed for reportedly engaging in the sale of Iranian oil and petrochemical products.
Part of Broader Crackdown on Iran
The U.S. Department of State announced the action as part of a broader crackdown intended to boost economic pressure on Tehran. The sanctioned parties ‘knowingly engaged in significant transactions’ that involved the sale or marketing of Iranian petroleum, the department stated in its press release.
Emphasizing the cause of the sanctions, the department said: “The Iranian regime persists in promoting conflict in the region to finance its destabilising purposes.” It further said, “Today the United States is acting to cut off the revenue stream the regime uses to finance terrorism outside its borders, as well as to repress its people.”
What the Sanctions Encompass?
The sanctions, according to the State Department, specifically target 20 business entities and 10 vessels, which are identified as blocked property under Executive Order 13846. The order reinstates U.S. sanctions on Iran’s energy industry as well as any entity linked to its oil and petrochemical exports.
Indian Companies Identified
The six Indian companies identified in the list of sanctions are:
- Kanchan Polymers
- Alchemical Solutions Pvt. Ltd.
- Ramniklal S. Gosalia and Company
- Jupiter Dye Chem Pvt. Ltd.
- Global Industrial Chemicals Ltd.
- Persistent Petrochem Pvt. Ltd.
They are said to have had roles along the petroleum supply chain, ranging from brokerage and shipping to marketing Iranian oil in foreign markets.
Global Sweep of Sanctions
The Indian companies are part of a wider global enforcement action that includes brokers, intermediaries, and shipping companies. The U.S. has accused these entities of helping Iran bypass international sanctions and bring its oil to global buyers, a practice Washington is determined to stop.
