Delhi, July 31: At least six Indian companies have been slapped with sanctions by the United States for allegedly importing and marketing petroleum and petrochemical products from Iran. The US Department of State announced the action on Wednesday, July 30, as part of its ongoing effort to curb Iran’s oil trade, which it claims funds terrorism and regional instability, a stance intensified since the Trump administration’s "maximum pressure" campaign. These firms are accused of conducting multimillion-dollar transactions in violation of US sanctions. Donald Trump Unveils ‘Massive’ Oil Reserve Deal With Pakistan, Says ‘Maybe They’ll Be Selling Oil to India Someday’.

So, which of the six companies are named, and why has the US taken such a strong stance against them? The firms reportedly facilitated Iranian oil exports through complex trade networks, helping Tehran bypass international restrictions. According to Washington, their activities contributed to Iran’s “destabilising activities” in West Asia. Let’s learn all about the sanctioned Indian companies and what they mean. ‘India-US Still Negotiating Trade Deal’, Says Donald Trump After Threat of 25% Tariff and 100% Penalty for Buying Russian Energy.

List of 6 Indian Companies Sanctioned by US and Why

  1. Alchemical Solutions Private Limited: Alchemical Solutions tops the list, accused of importing over USD 84 million worth of Iranian petrochemical products between January and December 2024.

  2. Global Industrial Chemicals Limited: This company reportedly imported methanol and other Iranian petrochemicals valued at more than USD 51 million from July 2024 to January 2025.

  3. Jupiter Dye Chem Private Limited: Jupiter Dye Chem is accused of importing Iranian-origin products, including toluene, worth over USD 49 million in the same timeframe.

  4. Ramniklal S Gosalia and Company: This firm allegedly sourced methanol and toluene from Iran, amounting to more than USD 22 million.

  5. Persistent Petrochem Private Limited: Persistent Petrochem is said to have imported roughly USD 14 million worth of Iranian methanol between October and December 2024.

  6. Kanchan Polymers: Though on a smaller scale, Kanchan Polymers imported over USD 1.3 million worth of Iranian polyethene. Some shipments were reportedly facilitated through a UAE-based trading company linked to Iran.

Why Did the US Sanction These Indian Companies?

The US imposed sanctions on these six Indian companies because they are accused of importing and marketing Iranian petroleum and petrochemical products in violation of American sanctions on Iran. These transactions allegedly help Iran generate billions in illicit revenue, which the US claims is used to fund destabilising activities in the Middle East and support terrorism. The sanctions are part of a broader strategy targeting the so-called "shadow fleet", a global network of intermediaries, vessels, and traders that enable Iran to bypass sanctions and sustain its oil exports despite international restrictions.

These measures form part of the US’s broader “maximum pressure” campaign designed to curb Iran’s influence in the region. While the affected companies can seek removal from the sanctions list by proving they have ceased prohibited activities, the current restrictions remain firmly in place.

(The above story first appeared on LatestLY on Jul 31, 2025 09:02 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).