Six Indian Chemical Firms Sanctioned For Iranian Petrochemical Imports, Sanctions Freeze Assets; Block Access To Dollar-Based Transactions

31st July 2025 at 1:40 PM

1 minute read

New Delhi : Barely a day after President Donald Trump’s sweeping 25% tariff on Indian exports, the US government struck again, this time with targeted sanctions on six Indian firms.

The designations, part of a broader crackdown on what Washington calls illicit shipping networks, hit a clutch of small and mid-sized players that collectively moved tens of millions of dollars’ worth of Iranian-origin chemicals between January 2024 and January 2025.

The six named companies—Alchemical Solutions Pvt Ltd, Global Industrial Chemicals Ltd, Jupiter Dye Chem Pvt Ltd, Ramniklal S Gosalia & Company, Persistent Petrochem Pvt Ltd, and Kanchan Polymers—span a cross-section of India’s chemical trading backbone.

Alchemical Solutions is the largest among the six in terms of alleged trade volume. The US State Department claims it imported more than $84 million worth of Iranian petrochemical products from multiple sources in the past year. These include high-demand industrial compounds like methanol, toluene, and polyethylene.

Industry insiders describe Alchemical as a key aggregator and distributor serving smaller chemical processors and intermediate manufacturers across western India. A relative newcomer, incorporated in 2023, Global Industrial Chemicals is based in Gujarat and reportedly imported $51 million worth of Iranian methanol and related products.