Sanctioning Entities That Have Traded in Iran’s Petroleum
The Iranian regime continues to gasoline battle within the Center East to fund its destabilizing actions. In the present day, the US is taking motion to stem the circulate of income that the regime makes use of to assist terrorism overseas, in addition to to oppress its personal individuals. The Division of State is imposing sanctions on 20 entities engaged in Iranian petroleum, petroleum merchandise, or petrochemical commerce and is figuring out 10 vessels as blocked property.
All targets are being designated pursuant to Govt Order (E.O.) 13846, which authorizes and reimposes sure sanctions with respect to Iran.
Concentrating on Iran’s Petrochemical Commerce
This motion additionally consists of the designation of 13 entities throughout a number of jurisdictions, which have engaged within the transshipment, sale, and buy of Iranian-origin petrochemicals. Though much less vital in worth than Iran’s crude oil exports, Iran’s petrochemical trade and exports are a important sector of the Iranian economic system and have grown lately to generate billions of {dollars} in illicit funds for Iran’s destabilizing actions. Just like the regime’s illicit oil exports, Iranian petrochemical merchandise are steadily transshipped by intermediaries in third nations in makes an attempt to obfuscate their origin earlier than the merchandise attain their final patrons. In the present day’s motion targets these intermediaries, in addition to the patrons of Iranian petrochemical merchandise.
KANCHAN POLYMERS is an India-based firm that has imported and bought over USD 1.3M value of Iranian-origin petrochemical merchandise, together with polyethylene, from TANAIS TRADING.
KANCHAN POLYMERS is being designated pursuant to part 3(a)(iii) of E.O. 13846 for knowingly participating in a major transaction for the acquisition, acquisition, sale, transport, or advertising of petrochemical merchandise from Iran.
ALCHEMICAL SOLUTIONS PRIVATE LIMITED (ALCHEMICAL SOLUTIONS) is an India-based petrochemical buying and selling firm that has imported and bought Iranian-origin petrochemical merchandise valued at over USD 84M from a number of corporations between January and December 2024.
ALCHEMICAL SOLUTIONS is being designated pursuant to part 3(a)(iii) of E.Ο. 13846 for knowingly participating in a major transaction for the acquisition, acquisition, sale, transport, or advertising of petrochemical merchandise from Iran.
RAMNIKLAL S GOSALIA AND COMPANY (RAMNIKLAL) is an India-based petrochemical firm that imported and bought Iranian-origin petrochemical merchandise valued at over USD 22M, together with methanol and toluene, from a number of corporations between January 2024 and January 2025.
RAMNIKLAL is being designated pursuant to part 3(a)(iii) of E.O. 13846 for knowingly participating in a major transaction for the acquisition, acquisition, sale, transport, or advertising of petrochemical merchandise from Iran.
JUPITER DYE CHEM PRIVATE LIMITED (JUPITER DYE CHEM) is an India-based petrochemical buying and selling firm that has imported and bought Iranian-origin petrochemical merchandise, together with toluene, valued at over USD 49M from a number of corporations between January 2024 and January 2025
JUPITER DYE CHEM is being designated pursuant to part 3(a)(iii) of E.O. 13846 for knowingly participating in a major transaction for the acquisition, acquisition, sale, transport, or advertising of petrochemical merchandise from Iran.
GLOBAL INDUSTRIAL CHEMICALS LIMITED (GLOBAL INDUSTRIAL) is an India-based firm that has imported and bought Iranian-origin petrochemical merchandise, together with methanol, valued at over USD 51M from a number of corporations, between July 2024 and January 2025.
GLOBAL INDUSTRIAL is being designated pursuant to part 3(a)(iii) of E.O. 13846 for knowingly participating in a major transaction for the acquisition, acquisition, sale, transport, or advertising of petrochemical merchandise from Iran.
PERSISTENT PETROCHEM PRIVATE LIMITED is an India-based firm that has imported roughly USD 14 million value of shipments containing Iranian-origin petrochemicals, reminiscent of methanol, from a number of corporations, together with from BAB AL BARSHA, with delivery dates between October 2024 and December 2024.
PERSISTENT is being designated pursuant to part 3(a)(iii) of E.O. 13846 for knowingly participating in a major transaction for the acquisition, acquisition, sale, transport, or advertising of petrochemical merchandise from Iran.
Because of immediately’s sanctions-related actions, and in accordance with E.O. 13846, all property and pursuits in property of the designated individuals described above which are in the US or in possession or management of U.S. individuals are blocked and have to be reported to the
Division of Treasury’s Workplace of Overseas Property Management (OFAC). Moreover, all entities and people which have possession, both straight or not directly, 50 % or extra by a number of blocked individuals are additionally blocked.
All transactions by U.S. individuals or inside (or transiting) the US that contain any property or pursuits in property of designated or in any other case blocked individuals are prohibited until approved by a basic or particular license issued by OFAC or exempt. These prohibitions embody the making of any contribution or provision of funds, items, or companies by, to, or for the advantage of any blocked individual and the receipt of any contribution or provision of funds, items, or companies from any such individual.
The ability and integrity of U.S. authorities sanctions derive not solely from the U.S. authorities’s capability to designate and add individuals to the Specifically Designated Nationals and Blocked Individuals (SDN) Record, but additionally from its willingness to take away individuals from the SDN Record in step with the regulation. The last word aim of sanctions is to not punish, however to carry a few constructive change in habits.
Petitions for removing from the SDN Record could also be despatched to: OFAC. Reconsideration@treasury.gov.
Petitioners may additionally discuss with the Division of State’s Delisting Steerage web page.
