US sanctions Indian firms over Russia support

The Indian companies downplayed the sanctions imposed by the United States for their alleged collaboration with Russia in war against Ukraine, saying the sanctions will not affect their operations, The Times of India reported.

According to Indian daily, the companies affected by the sanctions, such as Shreegee Impex Private Limited and ISMD Global claimed that the sanctions would not affect their operations. The Indian daily quoted Praveen Tyagi, director of Shreegee Impex as saying, "I don't know why these measures have been imposed on us, but it will not have any impact on us, because we neither import from the US nor export to the US."

In response to recent US sanctions against Indian entities, the ministry of external affairs India stated on Saturday that India is actively engaging with the US authorities to address concern surrounding the measures. The sanctions, imposed by the US State Department, target 19 Indian companies and two individuals accused of allegedly supplying materials and technology to Russia, allegedly aiding its military in the ongoing Ukraine conflict, The Times of India reported.

Earlier this week, the United States unveiled sanctions against almost 400 people and firms in more than a dozen countries, accusing them of supplying Russia with advanced technology to support its "war machine."

The US Treasury Department announced sweeping sanctions against 275 individuals and entities in countries including India, China, Switzerland and Turkey aimed at "disrupting global evasion networks."

"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 Treasury Secretary Wally Adeyemo said in a statement.

Since Russia launched its full-scale invasion into Ukraine in February 2022, the United States has sought to economically isolate Moscow with a wave of unilateral and coordinated actions, but the deadly conflict has continued to burn on.

Tensions have escalated in recent weeks, with Russia making significant territorial gains and Western countries accusing the Kremlin of training as many as 10,000 North Korean troops in preparation for battlefield deployment.

The Treasury's actions on Wednesday were supported by additional sanctions from the US State Department aimed at tackling entities supporting Russia's war efforts.

"Building on the unprecedented measures we have already imposed in coordination with our allies and partners, the United States is today imposing sanctions on nearly 400 entities and individuals for enabling Russia's illegal war against Ukraine," US Secretary of State Antony Blinken said in a statement.