Kathmandu. On the one hand, the US has announced a 25% tax on India, while on the other hand, the Trump administration has not stopped. Fines have been announced for doing business with Russia, major action has been taken against India for trading petroleum products with Iran and six Indian companies have been banned under this. These include Companies like Alchemical Solutions Private Limited, Global Industrial Chemicals Limited, Jupiter Die Chem Private Limited.
The US has announced a penalty on India for doing business with Russia, while Indian companies dealing in petroleum products with Iran have also been targeted by the US. According to the Us State Department, six Indian companies have been banned under executive order (EO) 13846. This decision of the Trump administration actually directly targets Iran’s petroleum and petrochemical sector. Announcing sanctions on these Indian companies, the Donald Trump administration has alleged that they are deliberately involved in important transactions for the purchase and distribution of Iranian petroleum products. This is a direct violation of US sanctions on Iran.
Ban on these companies
Indian companies banned by the US include some major petrochemical trade groups. It also includes kanchan polymers. It has imported and purchased more than $1.3 million worth of Iranian petrochemical products, including polyethylene, from Tanais Trading. As a result, it has been banned.
Another name on the list of banned Indian-origin companies is Alchemical Solutions Private Limited, and according to the US State Department, it imported and purchased Iranian petrochemical products worth more than $484 million from several companies between January and December 2024. Ramaniklal S Gosalia & Co. is an India-based petrochemical company. It imported Iranian petrochemical products, including methanol and toluene, worth more than $422 million from several companies between January 2024 and January 2025.
Jupiter Die Chem Private Limited is also on the list of Indian companies banned by the US. Between January 2024 and January 2025, it is alleged to have purchased petrochemical products of Iranian origin, including toluene, from several companies worth more than $ 49 million.
Global Industrial Chemicals Limited imported and purchased iranian-origin petrochemical products, including methanol, from several companies between July 2024 and January 2025. For this, according to Section 3(a)(III) of EO 13846, global industry has been banned for knowingly engaging in transactions with Iran.
Persistent Petrochem Private Limited was reported to have imported iranian-origin petrochemicals, such as methanol, worth about $140 million from several companies, including Bab Al Bursa. Whose shipment was scheduled from October 2024 to December 2024. Therefore, it has also been kept in the restricted category.
Earlier, US President Donald Trump had announced a heavy tax of 25% on India. Which will come into effect from the first day of the next month i.e. August 1. Trump’s main target of this 25% tax is many of India’s best performing export sectors.
Automobiles, auto components, steel, aluminum, smartphones, solar modules, marine products, gems, jewelry and food and agricultural products are all on the 25% list. However, drugs, semiconductors and essential minerals are excluded from the tax. However, companies related to areas that fall within the scope of trump tariffs can see a huge impact. – Agency
