US Curbs on 6 India-Based Firms Over Iran Sanctions
India has historically maintained trade relationships with Iran, though it has reduced Iranian oil imports significantly since 2019 following previous US sanctions
New Delhi: The Trump Administration has announced sanctions on six India-based companies for allegedly violating American sanctions on Iran. According to media reports, the United States accused these firms of collectively moving tens of millions of dollars’ worth of Iranian-origin chemicals between January 2024 and January 2025.
Among the six, the company with the largest alleged trade volume is reportedly based in Mumbai. The U.S. State Department claims the firm imported over $84 million worth of Iranian petrochemical products from multiple sources over the past year. These imports allegedly included high-demand industrial compounds such as methanol, toluene, and polyethylene.
Another company, based in Gujarat, is said to have imported $51 million worth of Iranian methanol and related products.
Tehran condemned the latest sanctions, calling them clear evidence of continued American hostility toward Iran.
