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US sanctions six Indian firms over Iran petrochemical trade
Hindustan Times Delhi
|August 01, 2025
The US State Department on Wednesday announced sanctions against over a dozen international firms, including six Indian companies, for trading in Iranian petrochemical products.
The firms will face sanctions under a 2018 Executive Order signed by President Donald Trump during his first term that blocks all property held by the sanctioned entities in the United States. The move comes as part of a broader effort by the Trump administration to cripple Iran’s energy exports, which count for a significant chunk of Tehran's foreign exchange earnings.
According to figures provided by the State Department, the six Indian companies did a combined $221 million in business by importing and purchasing Iranian petrochemical products between 2024 and 2025. The six companies are Kanchan Polymers, Alchemical Solutions, Ramniklal, Jupiter Dye Chem, Global Industrial and Persistent Petrochem Private Limited.
Two of these companies carried out business with firms in the United Arab Emirates, which have also been sanctioned, as have firms based in Turkey, Indonesia and China.
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