US sanctions 19 Indian companies for ‘aiding Russia’s war’ against Ukraine

2024-11-02 11:19:04

The United States has announced sweeping sanctions on around 400 entities and individuals globally — including 19 from India — for their alleged roles in “supporting Russia’s ongoing war” against Ukraine.

The US Department of the Treasury stated that companies from China, Switzerland, Thailand, and Turkey were also sanctioned for providing advanced technology and equipment Russia desperately needs to support its war machine.

The Department also targeted several senior Russian Ministry of Defence officials appointed earlier this year and defence companies and those supporting Russia’s future energy production and exports.

“The United States and our 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,” Deputy Secretary of the Treasury Wally Adeyemo said.

“As evidenced by today’s action, we are unyielding in our resolve to diminish and degrade Russia’s ability to equip its war machine and stop those seeking to aid their efforts through circumvention or evasion of our sanctions and export controls,” Adeyemo said.

CRACKDOWN ON EVASION NETWORKS

The sanctions aim to disrupt Russia’s ability to procure key technologies and components from third-party countries. The targeted goods include microelectronics and CNC (computer numerical control) items, which the Department of Commerce has classified as high-priority.

Countries including China, India, Kazakhstan, Turkey, and the UAE have been identified as suppliers of these critical dual-use goods that Russia uses to maintain and enhance its weapon systems.

FOCUS ON CHINA-BASED ENTITIES

The US Treasury voiced concerns over China’s ongoing export of dual-use goods to Russia, noting that China-based entities have supplied Moscow with essential components, helping it produce weapons and strengthen its defence production.

In response, several Chinese companies that produce and export CNC items essential for Russia’s military industry have been designated under the new sanctions. These sanctions seek to curb China’s role in supplying Russia’s war machinery through backchannels and sanctions-evasion networks.

The Department emphasised that cutting off these networks is key to undermining Russia’s defense capabilities as the war continues.

INDIA’S RESPONSE TO SANCTIONS

Minister of External Affairs spokesperson Randhir Jaiswal commented on the US sanctions against 19 Indian companies, stating that New Delhi is aware of these reports and emphasises its strong legal and regulatory framework for strategic trade and non-proliferation controls.

“We have seen these reports of US sanctions. India has a robust legal and regulatory framework on strategic trade and non-proliferation controls. We are also a member of three key multilateral non-proliferation export control regimes – the Vasinar Arrangement, the Australia Group and the Missile Technology Control Regime, and have been effectively implementing relevant UNSC sanctions and UNSC Resolution 1540 on non-proliferation,” he said.

Jaiswal also said that these sanctions do not appear to involve violations of Indian law by the companies in question.

“Our understanding is that the sanction, transactions and companies are not in violation of Indian laws. Nevertheless, in keeping with India’s established non-proliferation credentials, we are working with all the relevant Indian departments and agencies to sensitize Indian companies on applicable export control provisions and also inform them of new measures being implemented that could impact Indian companies in certain circumstances,” he added.

Published By:

Manisha Pandey

Published On:

Nov 2, 2024

US sanctions indian companies, US sanction for aiding Russia, Russia ukraine war, Third countries support Russia, russia's war against ukraine

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