US officers mentioned Iran makes use of income from oil and petrochemical exports to fund what Washington describes as “destabilising actions” within the Center East and help for terrorist teams.
In whole, six Indian corporations confronted sanctions from the US for partaking in Iranian petroleum, petroleum merchandise, or petrochemical purchases. Whereas imposing sanctions, the US claimed that the Iranian regime makes use of income to gas battle within the Center East, fund terrorism, and oppress its individuals.
The US Division of State spokesperson mentioned in an announcement, “The Iranian regime continues to gas battle within the Center East to fund its destabilising actions. At the moment, the US is taking motion to stem the circulation of income that the regime makes use of to help terrorism overseas, in addition to to oppress its personal individuals.”
The US Division of State introduced the sanctions on Wednesday, alleging the Indian corporations knowingly engaged in “important transactions” for the acquisition and advertising and marketing of Iranian petroleum merchandise, violating American sanctions on Iran.
The sanctioned Indian corporations embody a number of the nation’s main petrochemical merchants. Examine full record right here:
Alchemical Options Non-public Restricted confronted the most important allegations, accused of importing Iranian petrochemical merchandise value over USD 84 million between January and December 2024.
World Industrial Chemical substances Restricted is alleged to have bought Iranian petrochemicals, together with methanol, valued at over USD 51 million between July 2024 and January 2025.
Jupiter Dye Chem Non-public Restricted reportedly imported Iranian merchandise, together with toluene value over USD 49 million, throughout the identical interval.
Ramniklal S Gosalia and Firm is accused of buying Iranian petrochemicals value over USD 22 million, together with methanol and toluene.
Persistent Petrochem Non-public Restricted is accused of allegedly importing roughly USD 14 million value of Iranian petrochemicals, significantly methanol, between October and December 2024.
Kanchan Polymers is accused of buying over USD 1.3 million value of Iranian polyethene merchandise.
Listing of actions these corporations will face:
- Beneath the sanctions, all property of those corporations in the US or managed by US individuals at the moment are frozen.
- American people and firms are prohibited from conducting enterprise with the sanctioned entities.
- The motion additionally blocks any entity that’s 50 per cent or extra owned by the sanctioned corporations.
- It must be famous that the sanctions come because the US continues its “most strain” marketing campaign in opposition to Iran, focusing on what it calls the nation’s “shadow fleet” of vessels and middleman corporations that assist transport Iranian oil and petrochemicals globally.
Why did the US impose sanctions?
US officers mentioned Iran makes use of income from oil and petrochemical exports to fund what Washington describes as “destabilising actions” within the Center East and help for terrorist teams.
Nevertheless, India has traditionally maintained commerce relationships with Iran, although it has lowered Iranian oil imports considerably since 2019 following earlier US sanctions.
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