Srinagar, July 31 -- The United States has sanctioned six Indian companies for allegedly engaging in the trade of Iranian petroleum and petrochemical products, a violation of sanctions imposed under Executive Order 13846. The move, announced by the US Department of State, targets firms believed to be facilitating revenue streams that Washington says are used by the Iranian regime to fund terrorism, fuel regional conflict, and suppress internal dissent.

According to the US, the companies "knowingly engaged" in significant transactions involving Iranian-origin products. Among them, Alchemical Solutions Private Limited faces the most serious allegations, accused of importing over $84 million worth of Iranian petrochemicals throughout 2024. ...