6 Indian Firms Sanctioned by U.S. Over Trade in
Iranian Petrochemicals

Los Angeles/Aug 01, 2025
NRIpress.club/Ramesh/ A.Gary Singh

In a strong move aimed at curbing Iran’s petrochemical trade, the Trump administration has imposed sanctions on six Indian companies for engaging in significant transactions involving Iranian-origin petrochemical products. The U.S. Department of State made the announcement on Wednesday, as part of a broader crackdown on 20 international entities linked to Iran’s energy trade.

The action is part of Washington’s continued efforts to restrict revenue flows that the Iranian government allegedly uses to support terrorism and internal repression. “The Iranian regime fuels regional instability. Today’s sanctions are a step toward cutting off the funds that sustain such actions,” the State Department said in its official statement.

The Indian companies sanctioned are:

• Kanchan Polymers, which purchased over $1.3 million worth of Iranian polyethylene via a UAE-based supplier.
• Alchemical Solutions, found to have imported over $84 million in petrochemicals from various sources throughout 2024.
• Ramniklal S Gosalia & Co, which acquired over $22 million in products such as methanol and toluene.
• Jupiter Dye Chem Pvt. Ltd., responsible for buying over $49 million worth of toluene and other chemicals.
• Global Industrial Chemicals Ltd., involved in trade exceeding $51 million.
• Persistent Petrochem Pvt. Ltd., with reported transactions valued above $14 million.

According to U.S. authorities, these firms knowingly participated in major transactions related to Iranian petrochemical trade, which falls under prohibitions enforced by U.S. sanctions law. As a result, any assets these companies hold within the United States or under the control of U.S. persons are now frozen, and must be reported to the Office of Foreign Assets Control (OFAC).

“Entities doing business with Iran’s petrochemical sector risk losing access to the U.S. financial system,” the statement warned, echoing President Trump’s earlier stance on enforcing maximum economic pressure against Tehran.

Beyond these actions, the U.S. Treasury Department also rolled out sanctions targeting over 50 individuals, companies, and vessels tied to a vast shipping network operated by Mohammad Hossein Shamkhani, son of senior Iranian official Ali Shamkhani. The network allegedly moves Iranian petroleum through complex international arrangements.
Among those named in the sanctions list is Pankaj Nagjibhai Patel, an Indian national based in the UAE, identified as a key figure in several shipping companies connected to Hossein’s operations, including Teodor Shipping.

In addition, Indian citizens Jacob Kurian and Anil Kumar Panackal Narayanan Nair have been linked to Neo Shipping Inc., a Marshall Islands-based firm that owns the vessel ABHRA, which is reportedly part of the sanctioned fleet.
The U.S. has described this as the largest Iran-related enforcement action since 2018, reaffirming its intention to deny Iran the financial means to pursue nuclear ambitions and regional influence.

“We remain committed to disrupting all networks that enable Iran’s illicit oil and petrochemical trade,” said the Treasury.

News Source :- Click Here