India, July 31 -- On Wednesday, America's State Department announced sanctions against over a dozen international firms, including 6 Indian companies, for trading in Iranian petrochemical products. The Indian firms will face sanctions under a 2018 Executive order signed by President Donald Trump in his first term that blocks all property held by the sanctioned entities in the United States.

The move comes as part of a broader effort by the Trump Administration to cripple Iran's energy exports, which count for a significant chunk of Tehran's foreign exchange earnings.

According to figures provided by America's State Department, the six Indian companies did a combined $221 million in business by importing and purchasing Iranian petrochemi...