Amidst the imposition of a 25% tariff on India, the Trump administration is taking further steps. After penalties for trading with Russia, a significant move against India's petroleum transactions with Iran has resulted in bans on six Indian companies. Among these are Alchemical Solutions Private Limited, Global Industrial Chemicals Limited, and Jupiter Dye Chem Private Limited.
Trade with both Russia and Iran not acceptable to Trump
The U.S. has announced penalties for India's trade with Russia. Concurrently, Indian companies involved in Iranian petroleum exchanges are under scrutiny. According to the U.S. Department of State, six Indian companies are sanctioned under Executive Order 13846, targeting Iran's petroleum sector.
The Trump administration accused these companies of deliberately engaging in significant transactions involved in purchasing and distributing Iranian Petroleum Products, directly violating U.S. sanctions.
Companies facing the ban
The banned Indian companies include key petrochemical business groups. Notably,
Kanchan Polymers
imported Iranian petrochemical products, valued at over $1.3 million USD, from Tanai Trading, resulting in sanctions.
Alchemical Solutions
Private Limited is next on the list, having imported Iranian petrochemical products worth over $84 million USA between January and December 2024.
Ramniklal S Gosalia And Company
, an India-based petrochemical firm, imported methanol and toluene worth over $22 million USD from multiple sources between January 2024 and January 2025.
Jupiter Dye Chem Private Limited
joins the sanctioned list, accused of purchasing Iranian petrochemical products, including toluene worth over $49 million USD, between January 2024 and January 2025.
Global Industrial Chemicals Limited
imported methanol and other Iranian petrochemical products worth over $51 million USD from multiple sources between July 2024 and January 2025, leading to sanctions under Executive Order 13846, section 3(a)(iii), for deliberate transactions with Iran.
Persistent Petrochem Private Limited
reportedly imported roughly $14 million USD in methanol from various companies, including Bab Al Barsha, shipping between October 2024 and December 2024, thus facing restrictions.
The 25% tariff bomb dropped on India
Earlier, American President Donald Trump announced a considerable 25% tariff on India, effective from the start of August 2025. This new tariff principally targets India’s high-performing export sectors, including automobiles, auto components, steel, aluminum, smartphones, solar modules, marine products, gemstones, jewelry, and food and agricultural products. However, pharmaceuticals, semiconductors, and essential minerals are exempt. The affected sectors might witness substantial impacts.
