$220 million worth of deals under scanner: After 25% tariffs, US sanctions 6 Indian firms; move taken over oil trade with Iran

The US State Department, on Wednesday, unveiled the sanctions against 6 India-based companies, claiming these firms deliberately participated in “significant transactions” involving the acquisition and sale of Iranian petroleum products, breaching American restrictions on Iran. Among the sanctioned Indian enterprises are prominent petrochemical traders. The heaviest accusations fell on Alchemical Solutions Private Limited, which allegedly…