After the tariff dispute, Donald Trump is trying to repair relations between India and the US. Negotiations for a deal between the two countries are also in the final stage. Meanwhile, the Trump Administration has lifted the ban on four Indian companies. The companies on which the US Treasury Department has lifted the ban include RRG Engineering Technologies Pvt Ltd and Lokesh Machines Ltd of Hyderabad, Galaxy Bearings Ltd of Ahmedabad and Shaurya Aeronautics Pvt Ltd of Delhi.
These companies have been removed from the SDN list
The US Treasury Department has removed these companies from the Specially Designated Nationals (SDN) list. The assets of the companies and people included in this list are frozen in US jurisdiction.
21 Indian entities were banned two years ago
The move comes nearly two years after the US Office of Foreign Assets Control (OFAC) added four companies to its sanctions list. In 2024, OFAC imposed sanctions on 21 Indian entities, including 19 companies and two individuals, under an executive order. The order targets companies or people accused of helping the Russian government.
US took action after Russia’s attack on Ukraine
Washington’s move was part of a larger effort to prevent Moscow from violating sanctions imposed after Russia’s attack on Ukraine in 2022. Following the ban, the Indian government said it had spoken to Washington on the matter. The Ministry of External Affairs said that India is a responsible member of the international community.