What we know about six Indian companies sanctioned by Donald Trump's administration for trade with Iran
Notably, this came after Donald Trump said that trade negotiations with India would continue, even after the US slapped a 25 per cent tariff and penalties on the country, for purchasing Russian oil.
According to an official statement, the United States government said that the 13 entities being targetted for action, have 'engaged in the trans-shipment, sale, and purchase of Iranian-origin petrochemicals'. The move, it added, comes the US views Iran's petrochemical industry and exports as 'a critical sector of the Iranian economy, and have grown in recent years to generate billions of dollars in illicit funds for Iran's destabilising activities'. Kanchan Polymers: The US statement said that Kanchan Polymers has been recorded to have imported and purchased 'over $1.3 million worth of Iranian-origin petrochemical products', including polyethylene, from a sanctioned Iranian company named Tanais Trading.
It added, 'Kanchan Polymers is being designated for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.' Alchemical Solutions: The report said that this petrochemical trading company imported and purchased Iranian-origin petrochemical products valued at over $84 million from multiple companies between January and December 2024.
Adding, 'Alchemical Solutions is being designated for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran,' it said. Ramniklal S Gosalia and Company: As per the report, the petrochemical company that imported and purchased Iranian-origin petrochemical products valued at over $22 milion, including methanol and toluene, from multiple companies between January 2024 and January 2025.
It said, 'Ramniklal is being designated for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.' Jupiter Dye Chemical: An India-based petrochemical trading company that has imported and purchased Iranian-origin petrochemical products, including toluene, valued at over $49 million from multiple companies between January 2024 and January 2025.
It is 'being designated for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran,' it said. Global Industrial Chemicals: India-based company that has imported and purchased Iranian-origin petrochemical products, including methanol, valued at over $51 million from multiple companies, between July 2024 and January 2025.
It is 'being designated for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran,' the statement added. Persistent Petrochem: An India-based company that has imported approximately $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.
The statement said the company 'is being designated for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran'.
The statement added that the US government is 'willing to remove persons from the SDN List consistent with the law' and that the goal is 'not to punish, but bring about a positive change in behaviour'.
Those affected can try the following step to appeal the sanctions: Petitions for removal may be sent to: OFAC.
Or use this email: Reconsideration@treasury.gov.
Further, petitioners may also refer to the Department of State's Delisting Guidance page.
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