US Targets Indian Firms for Alleged Supplies to Russian Companies

Photo : Reuters

Washington: On Wednesday, the United States imposed sanctions on nearly 400 entities and individuals in a renewed effort to counter Russia's evasion of measures linked to its invasion of Ukraine. This action, undertaken by the U.S. Treasury and State Departments, signifies a strong stance against third-party countries aiding Russia.

According to officials, this marks the most extensive attempt to combat such evasion, particularly targeting companies from China, Hong Kong, and India. The sanctions list includes dozens of firms from these regions, reflecting an increased focus on restricting their operations. Targets were also identified in Russia, the United Arab Emirates, Turkey, Thailand, Malaysia, and Switzerland.

A senior State Department official emphasized the importance of this action, stating, "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." The sanctions include 274 targets designated by the Treasury and over 120 by the State Department, alongside 40 companies added to a trade restriction list by the Commerce Department.

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Deputy Treasury Secretary Wally Adeyemo reinforced the U.S. commitment, stating, "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."

In response, China's Washington embassy spokesperson Liu Pengyu criticized the sanctions, labeling them as "illegal and unjustifiable." Liu accused the U.S. of hypocrisy for its military support of Ukraine while condemning trade relations between China and Russia.

The U.S. has voiced concern over the supply of high-priority items to Russia, particularly microelectronics, with a noticeable uptick in exports from India. The State Department indicated that India-based Futrevo was implicated for supplying high-priority items to Russian manufacturers of Orlan drones, while Shreya Life Sciences Private Limited was noted for sending significant quantities of U.S.-trademarked technology to Russia since 2023.

A senior State Department official revealed that over 70% of the high-priority goods reaching Russia originated from China, amounting to more than $22 billion since the conflict began. The U.S. also imposed restrictions on entities supporting Russia's Arctic LNG 2 project, which is heavily influenced by U.S. sanctions.

While the U.S. refrained from invoking an executive order threatening penalties for financial institutions aiding Russia's sanctions circumvention, officials noted that banks are increasingly complying with regulatory expectations.

The action highlights the U.S. commitment to curbing Russia's military supply chains and sending a clear warning to entities that engage in facilitating these transactions.

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