As many as 15 companies from India are among the 275 individuals and entities facing the US sanctions for allegedly backing Russia's military-industrial base.
The US Department of Treasury, in a recent statement, said several companies from China, Switzerland, Thailand, and Turkey have been slapped with sanctions for supplying Russia with advanced technology and equipment for its war machine.
As per the list released by the Department of Treasury, the India-based companies facing sanctions include Abhar Technologies and Services Private Limited; Denvas Services Private Limited; Emsystech; Galaxy Bearings Ltd; Orbit Fintrade LLP; Innovio Ventures; KDG Engineering Private Limited; and Khushbu Honing Private Limited.
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Lokesh Machines Limited; Pointer Electronics; RRG Engineering Technologies Private Limited; Sharpline Automation Private Limited; Shaurya Aeronautics Private Limited; Shreegee Impex Private Limited; and Shreya Life Sciences Private Limited are also facing US sanctions.
In addition to disrupting global evasion networks, this action also targets domestic Russian importers and producers of key inputs and other material for Russia's military-industrial base, a statement from the department read.
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Deputy Secretary of the Treasury Wally Adeyemo said the US and its allies will continue to take decisive action across the globe to stop the flow of critical tools and technologies that Russia needs to wage its "illegal and immoral war against Ukraine."
He further said the US is unyielding in its resolve to diminish and degrade Russia's ability to equip its war machine and stop those seeking to aid Moscow's efforts through circumvention or evasion of our sanctions and export controls.
