Washington DC, July 30 -- The United States has imposed sanctions on at least half a dozen Indian companies accused of trading in Iranian petroleum and petrochemicals as part of broader action targeting 20 entities worldwide.

The US Department of State announced the sanctions on Wednesday, alleging the Indian firms knowingly engaged in "significant transactions" for the purchase and marketing of Iranian petroleum products, violating American sanctions on Iran.

The sanctioned Indian companies include some of the country's major petrochemical traders. Alchemical Solutions Private Limited faces the largest allegations, accused of importing Iranian petrochemical products worth over USD 84 million between January and December 2024.

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