US EditionAfter Russia Tariff Penalty, Trump Administration Sanctions 6 India-Based Companies for Trading Oil with Iran
INDIA, JUL 31 – Six Indian firms face sanctions for Iranian petroleum trades valued over $221 million, violating US Executive Order 13846 aimed at curbing Iran's funding of terrorism and regional conflicts.
- On July 30, the US Department of State sanctioned six Indian companies, including Kanchan Polymers and Alchemical Solutions Private Limited, for Iran petrochemical transactions.
- This move comes under Executive Order 13846, part of Washington's 'maximum pressure' campaign targeting 20 entities involved in Iran’s oil trade.
- According to US figures, Global Industrial Chemicals Limited sourced Iranian methanol and other substances valued above $51 million, while Jupiter Dye Chem Private Limited imported over $49 million worth of Iranian products.
- Under the sanctions, the sanctioned firms’ US assets are frozen, and American companies face transaction bans without OFAC approval.
- While the firms remain sanctioned, the Indian companies can file petitions with the Office of Foreign Assets Control to seek removal if they prove they no longer engage in restricted activities.
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US sanctions 8 Indian companies, 5 nationals as part of latest action against Iran’s energy trade, shipping network
US Sanctions on Indian Companies: In February, the US had sanctioned four India-based companies for being commercial or technical managers of vessels allegedly involved in transportation of Iranian oil and petroleum products.
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Coverage Details
Total News Sources41
Leaning Left5Leaning Right11Center2Last UpdatedBias Distribution61% Right
Bias Distribution
- 61% of the sources lean Right
61% Right
L 28%
11%
R 61%
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