After Russia tariff penalty, Trump administration sanctions 6 India-based companies for trading oil with Iran
The Iranian regime continues to fuel conflict in the Middle East to fund its destabilizing 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. The Department of State is imposing sanctions on 20 entities engaged in Iranian petroleum, petroleum products, or petrochemical trade and is identifying 10 vessels as blocked property.
All targets are being designated pursuant to Executive Order (E.O.) 13846, which authorizes and reimposes certain sanctions with respect to Iran.
Targeting Iran's Petrochemical Trade
This action also includes the designation of thirteen entities across multiple jurisdictions, which have engaged in the transshipment, sale, and purchase of Iranian-origin petrochemicals. Although less significant in value than Iran's crude oil exports, Iran's petrochemical industry and exports are a critical sector of the Iranian economy and have grown in recent years to generate billions of dollars in illicit funds for Iran's destabilizing activities. Similar to the regime's illicit oil exports, Iranian petrochemical products are frequently transshipped through intermediaries in third countries in attempts to obfuscate their origin before the products reach their ultimate buyers. Today's action targets those intermediaries, as well as the buyers of Iranian petrochemical products.
KANCHAN POLYMERS is an India-based company that has imported and purchased over USD 1.3M worth of Iranian-origin petrochemical products, including polyethylene, from TANAIS TRADING.
KANCHAN POLYMERS is being designated pursuant to section 3(a)(iii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.
ALCHEMICAL SOLUTIONS PRIVATE LIMITED (ALCHEMICAL SOLUTIONS) is an India-based petrochemical trading company that has imported and purchased Iranian-origin petrochemical products valued at over USD 84M from multiple companies between January and December 2024.
ALCHEMICAL SOLUTIONS is being designated pursuant to section 3(a)(iii) of E.Ο. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.
RAMNIKLAL S GOSALIA AND COMPANY (RAMNIKLAL) is an India-based petrochemical company that imported and purchased Iranian-origin petrochemical products valued at over USD 22M, including methanol and toluene, from multiple companies between January 2024 and January 2025.
RAMNIKLAL is being designated pursuant to section 3(a)(iii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.
JUPITER DYE CHEM PRIVATE LIMITED (JUPITER DYE CHEM) is an India-based petrochemical trading company that has imported and purchased Iranian-origin petrochemical products, including toluene, valued at over USD 49M from multiple companies between January 2024 and January 2025
JUPITER DYE CHEM is being designated pursuant to section 3(a)(iii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.
GLOBAL INDUSTRIAL CHEMICALS LIMITED (GLOBAL INDUSTRIAL) is an India-based company that has imported and purchased Iranian-origin petrochemical products, including methanol, valued at over USD 51M from multiple companies, between July 2024 and January 2025.
GLOBAL INDUSTRIAL is being designated pursuant to section 3(a)(iii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.
PERSISTENT PETROCHEM PRIVATE LIMITED is an India-based company that has imported approximately USD 14 million worth of shipments containing Iranian-origin petrochemicals, such as methanol, from multiple companies, including from BAB AL BARSHA, with shipping dates between October 2024 and December 2024.
PERSISTENT is being designated pursuant to section 3(a)(iii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.
As a result of today's sanctions-related actions, and in accordance with E.O. 13846, all property and interests in property of the designated persons described above that are in the United States or in possession or control of U.S. persons are blocked and must be reported to the
Department of Treasury's Office of Foreign Assets Control (OFAC). Additionally, all entities and individuals that have ownership, either directly or indirectly, 50 percent or more by one or more blocked persons are also blocked.
All transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons are prohibited unless authorized by a general or specific license issued by OFAC or exempt. These prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person and the receipt of any contribution or provision of funds, goods, or services from any such person.
The power and integrity of U.S. government sanctions derive not only from the U.S. government's ability to designate and add persons to the Specially Designated Nationals and Blocked Persons (SDN) List, but also from its willingness to remove persons from the SDN List consistent with the law. The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior.
Petitions for removal from the SDN List may be sent to: OFAC. Reconsideration@treasury.gov.
Petitioners may also refer to the Department of State's Delisting Guidance page.
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