The US has banned 275 people and units, including 15 Indian companies, for allegedly supporting Russia's military-industrial establishments. The US Finance Department said in the statement that bans have also been imposed on companies from China, Switzerland, Thailand and Turkey. The reason for this is that these companies are providing advanced technology and equipment to Russia which Russia is using to run its war system. Let us also tell you which Indian companies have been banned by America.
According to the list released by the Finance Department, the names of India-based companies – Abhaar Technologies and Services Private Limited, Danavas Services Private Limited, Amsystec, Galaxy Bearings Limited, Orbit Fintrade LLP, Inovio Ventures, KDG Engineering Private Limited and Khushboo Honing Private Limited are included. Are. Apart from these, Lokesh Machines Limited, Pointer Electronics, RRG Engineering Technologies Private Limited, Sharpline Automation Private Limited, Shaurya Aeronautics Private Limited, Shreeji Impex Private Limited and Shreya Life Sciences Private Limited have also been placed in the banned list.
Earlier on Wednesday, America had announced sanctions on about 400 institutions and individuals for promoting Russia's war against Ukraine. According to the statement, in addition to disrupting global tax evasion networks, this action also targets domestic Russian importers and producers of key information and other materials for Russia's military-industrial establishments. Deputy Secretary of Treasury Wally Adeyemo said the United States and our allies will continue to take decisive action around the world to stop the flow of critical equipment and technologies needed by Russia to wage an illegal and immoral war against Ukraine. He said that this action makes it clear that we remain steadfast in our resolve to reduce Russia's ability to equip its war machinery and to stop those who try to assist it by circumventing or evading our sanctions and export controls.
After this ban, reaction has started coming from India. The Foreign Ministry is in touch with US officials to "clarify issues" following the imposition of sanctions against companies and institutions supporting Russia. The names of more than 15 Indian companies and two individuals were included in the long list announced by US officials earlier this week. However, the Ministry of External Affairs on Saturday insisted that these institutions are not violating any Indian law. External Affairs Ministry spokesperson Randhir Jaiswal said that our understanding is that the approvals, transactions and companies are not violating Indian laws.
