The United States, under the Trump administration, unleashed sanctions on six Indian companies, accusing them of engaging in over $220 million worth of Iranian petrochemical transactions, violating U.S. restrictions. The move, part of a broader campaign targeting 20 global entities, aims to choke off Iran’s revenue streams, which Washington claims fund terrorism and destabilizing activities in the Middle East.

The U.S. Department of State labeled the Indian firms—Alchemical Solutions Private Limited, Global Industrial Chemicals Limited, Jupiter Dye Chem Private Limited, Ramniklal S Gosalia & Company, Persistent Petrochem Private Limited, and Kanchan Polymers—as major players in Iran’s petrochemical trade. Alchemical Solutions allegedly imported $84 million worth of Iranian petrochemicals, including methanol, from January to December 2024. Global Industrial Chemicals and Jupiter Dye Chem purchased $51 million and $49 million in products, respectively, including methanol and toluene, between July 2024 and January 2025. Ramniklal S Gosalia & Company sourced $22 million in similar goods, while Persistent Petrochem and Kanchan Polymers imported $14 million and $1.3 million worth of products, respectively, in late 2024.

“These companies knowingly engaged in significant transactions with Iranian oil,” the State Department said, emphasizing its “maximum pressure” campaign to halt Iran’s illicit exports. The sanctions freeze U.S. assets and ban American businesses from dealing with these firms, with additional restrictions on entities they control. The U.S. insists the goal is to compel Iran to abandon its nuclear ambitions and promote regional stability.

Also Read: Trump Unveils Major Pakistan Oil Partnership

Separately, the Treasury Department sanctioned over 50 individuals and entities linked to Mohammad Hossein Shamkhani, a key figure in Iran’s shipping network, including UAE-based Indian national Pankaj Nagjibhai Patel and two Indian nationals, Jacob Kurian and Anil Kumar Panackal Narayanan Nair, tied to Marshall Islands-based Neo Shipping Inc. This marks the largest Iran-related sanctions action since 2018, targeting a “shadow fleet” that covertly transports Iranian oil to buyers, primarily in China.

India, once a major importer of Iranian oil, halted official imports in 2019 due to earlier U.S. sanctions but maintains some trade ties through intermediaries. The sanctioned companies can petition for removal from the Treasury’s Specially Designated Nationals list, with the U.S. stating the aim is “not to punish, but to change behavior.” As global tensions rise, the sanctions highlight Washington’s aggressive stance against Iran’s oil trade, raising questions about India’s economic relations with both nations.

Also Read: Trump’s Tariff Deadline Looms: New Trade Deals Revealed