US sanctions 6 Indian firms for importing Iranian oil
The US has hit six Indian companies with sanctions for allegedly importing petroleum and petrochemicals from Iran, despite ongoing restrictions.
The list includes Mumbai-based Alchemical Solutions, Ramniklal S Gosalia, Jupiter Dyechem, Global Industrial Chemicals, Persistent Petrochem, and Chennai's Kanchan Polymers.
Sanctions freeze US assets, block dollar transactions
These firms are accused of moving millions in Iranian goods—Alchemical Solutions alone reportedly imported $84 million worth.
The sanctions freeze their US assets and block access to dollar transactions, shipping, and insurance.
This move is part of a bigger push by the US to cut off funds to Iran's networks and limit its regional influence.
While Iran called the sanctions "economic weaponization," India hasn't responded yet.
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