U.S. Imposes Sanctions on 6 Indian Companies

The United States has imposed sanctions on six Indian companies for allegedly engaging in petroleum trade with Iran. As a result, these companies’ assets and interests under U.S. jurisdiction or controlled by U.S. persons will be "blocked" or frozen.

This information was reported by Indian news outlet NDTV on Thursday (July 31).

According to the report, the U.S. imposed sanctions on six Indian companies for being involved in the purchase and sale of Iranian petroleum and petrochemical products.

The U.S. State Department claims these transactions violate Executive Order 13846, under which such dealings are prohibited. The rationale is that the Iranian government uses the resulting revenues to fuel conflict in the Middle East, finance terrorism, and repress its own population.

In a statement released on Wednesday (July 30) local time, a spokesperson for the U.S. State Department said:
“The Iranian regime uses revenue from oil sales to fuel violence across the Middle East. Today’s actions are part of our efforts to cut off those financial flows, which fund terrorism abroad and oppression at home.”

Alongside the six Indian companies, a total of 20 other international entities were also listed under the sanctions.

The six sanctioned Indian companies are:

• Alchemical Solutions Private Limited
• Global Industrial Chemicals Limited
• Jupiter Dye Chem Private Limited
• Ramniklal S. Gosalia and Company
• Persistent Petrochem Private Limited
• Kanchan Polymer

All these entities were sanctioned under Section 3(a)(3) of Executive Order 13846 for “knowingly engaging in significant transactions involving Iranian petrochemical products.”