Six firms profiled in the U. S. Department of State statement include Alchemical Solutions Pvt Ltd, alleged to have sourced more than $84 million in Iranian petrochemical products during 2024; Global Industrial Chemicals Ltd is said to have handled over $51 million from mid‑2024 through January 2025; Jupiter Dye Chem Pvt Ltd reportedly imported Iranian goods to the tune of $49 million in the same period; Ramniklal S Gosalia & Company around $22 million; Persistent Petrochem Pvt Ltd approximately $14 million; and Kanchan Polymers roughly $1.3 million worth of Iranian products, including polyethylene.
The sanctions prohibit any U. S. dealings with these firms, block assets under U. S. jurisdiction, and extend to any entity that is at least 50 per cent owned by a listed company — effectively isolating them from U. S. financial systems and dollar‑based trade channels.
These designations mark the most significant Iran‑related sanctions action by the U. S. since 2018, part of a revived “maximum pressure” strategy. That broader campaign, unveiled by the Treasury Department, targets more than 115 individuals, vessels, and firms linked to a global shipping network allegedly helmed by Mohammad Hossein Shamkhani. This network is accused of transporting Iranian and Russian oil globally to generate tens of billions of dollars supporting Tehran’s regime elites and military infrastructure.
Barricading companies across India, China, Turkey, the UAE and Indonesia, U. S. officials assert the sanctions are intended to choke off illicit shipping and trading routes that Iran uses to evade its economic restrictions. Earlier actions also pinpointed firms linked to Sepehr Energy, a state‑affiliated front facilitating oil exports to fund Iran’s ballistic missile and proxy networks.
Within India, none of the six firms have issued public statements responding to the U. S. sanctions. Firms are afforded an opportunity to petition for removal from the U. S. Treasury’s Specially Designated Nationals list via the Office of Foreign Assets Control, contingent upon ceasing the restricted transactions.
The crackdown amplifies tensions in U. S.–India trade relations. In the days immediately preceding this action, the U. S. announced a 25 per cent tariff on Indian goods, citing broader concerns over purchases of Russian oil and trade imbalances. These concurrent economic measures are likely to strain bilateral discussions, especially those aimed at forging a free trade framework with an eye to doubling bilateral trade by 2030.
Experts observe that the affected companies are largely small‑ to mid‑sized traders embedded in India’s chemical and textile supply chains. Their inclusion in the sanctions list sends a warning across global commodity markets about the risks of secondary breaches of unilateral U. S. sanctions policies, even if such activity occurs outside formal government channels.