America has imposed ban on 15 Indian companies
The US has imposed sanctions on 275 people and units, including 15 Indian companies, for allegedly supporting Russia’s military-industrial establishments. The US Treasury Department said in a statement on Thursday that sanctions 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.
America has imposed ban on these Indian companies
The list released by the Finance Department includes the names of Indian 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. . 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 kept in this list.
America also took action on Wednesday
Earlier on Wednesday, the US had announced sanctions on about 400 entities and individuals for promoting Russia’s war against Ukraine. In addition to disrupting global tax evasion networks, the action also targets domestic Russian importers and producers of key information and other materials for Russia’s military-industrial establishments, according to the statement. “The United States and our allies will continue to take decisive action around the world to stop the flow of critical equipment and technologies to Russia needed to wage an illegal and immoral war against Ukraine,” said Deputy Treasury Secretary Wally Adeyemo.
America is firm on its resolve
He said, “This action makes clear that we remain steadfast in our resolve to deter those who seek to help Russia by reducing its ability to equip its war machinery and by bypassing or evading our sanctions and export controls.” ”The US State Department has also targeted sanctions evasion and fraud in a number of third party countries. These include several China-based companies that export dual-use goods that help meet Russia’s military-industrial needs. The US has also imposed sanctions on several senior Russian Defense Ministry officials and defense companies that support Russia’s future energy production and exports.
With PTI inputs
Latest Business News
