US Sanctions Indian Firms, Hikes Tariffs Amid Iran Crackdown

The United States has imposed its largest Iran-related sanctions package since 2018, targeting over 115 individuals, entities, and vessels across multiple countries for involvement in Iranian petroleum and petrochemical trade. The measures specifically sanction at least six Indian companies, including Kanchan Polymers, Alchemical Solutions, and Ramniklal S Gosalia and Company, as well as entities in Turkey, the UAE, China, and Indonesia. US officials state the sanctions are intended to disrupt illicit revenues used by the Iranian regime to fund destabilizing activities. In addition to the sanctions, the US has imposed a 25% tariff on Indian imports, further increasing trade tensions. Iran has condemned the sanctions as coercive and discriminatory, urging the Global South to resist US economic pressure. The US warns that any entity trading with Iran risks exclusion from US markets.