US Imposes Sanction On Indian Firms Amid Fresh Crackdown On Russia

The US imposed sanctions on nearly 400 entities and individuals from over a dozen countries, including dozens from China, Hong Kong, and India, for aiding Russia's Ukraine invasion.

By : ABP News Bureau | Updated at : 01 Nov 2024 08:40 AM (IST)

US imposed sanctions on over 400 entities from over a dozen countries including Indian firms.
Source : PTI

The United States on Wednesday imposed sanctions on nearly 400 entities and individuals from over a dozen countries amid its crackdown on Russia over its invasion of Ukraine. 

Dozens of Chinese, Hong Kong and Indian companies came under the sanctions, reported Reuters. The action was the most concerted push so far against third-country evasion, a State Department official said. 

Entities and individuals from Russia, the United Arab Emirates, Turkey, Thailand, Malaysia, Switzerland and elsewhere were also targeted in the sanctions. 

"This should send a serious message to both the governments and the private sectors of these countries that the U.S. government is committed to countering the evasion of our sanctions against Russia and to continue putting pressure on Russia to end its war in Ukraine," said the official. 

The US Treasury Department imposed sanctions on 274 targets while the State Department designated over 120 and the Commerce Department added 40 companies, as per the Reuters report. 

India's Futrevo was among the companies targeted and sanctioned by the US. The State Department accused the company of being involved in the supply of high-priority items to the Russia-based manufacturer of Orlan drones. 

Shreya Life Sciences Private Limited was another company targeted in the sanction by the Treasury which said it has since 2023 sent hundreds of shipments of US-trademarked technology to Russia, totaling tens of millions of dollars. 

The State Department official said the export of such goods from India to Russia has been on the rise. The sanctions were designed to signal that the US would take action against Indian companies if progress is not made through communication, a senior administration official said. 

“With India, we have been very direct and blunt with them about the concerns we have about what we see as sort of emerging trends in that country that we want to stop before they get too far down the road,” said the official, speaking on condition of anonymity.

Meanwhile, spokesperson of the Chinese embassy in Washington, Liu Pengyu said Beijing was firmly opposed to "illegal and unjustifiable unilateral sanctions."

Published at : 01 Nov 2024 08:40 AM (IST)
Tags :
Ukraine RUSSIA US Sanction

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