Washington: The United States on Tuesday removed four Indian companies from its sanctions list after they were placed on the sanctions list for their alleged business ties with Russia.
The four companies – RRG Engineering Technologies, Lokesh Machines, Galaxy Bearings and Shaurya Aeronautics – have been removed from the sanctions list maintained by the US Treasury Department’s Office of Foreign Assets Control (OFAC). All four were sanctioned in October 2024.
According to the US Treasury Department, Hyderabad-based RRG Engineering Technologies shipped more than 100 shipments of microelectronics to Russia-based Arteks Limited, which is under US sanctions. Lokesh Machines was accused of supplying dozens of shipments of machine tools to Russian manufacturers.
The Treasury Department also alleged that Lokesh Machines employees coordinated with sanctioned Russian procurement agent Dmitry Vladimirovich Alikhanov and his company, Newton-ITM, to import Italian-origin CNC machines from sanctioned manufacturer Fagima SPA.
Ahmedabad-based Galaxy Bearings was sanctioned for allegedly exporting dual-use equipment, including roller bearings and assemblies, to Russia, while Shaurya Aeronautics was accused of supplying radar equipment and radio navigation devices.
The Treasury Department did not specify the reasons for removing the four companies from the sanctions list.
The companies were designated in October 2024 as part of a broader US sanctions package targeting entities accused of supporting Russia’s military industrial base in the wake of the Ukraine conflict. The sanctions blocked any property or interests in property of listed entities within U.S. jurisdiction and generally prohibited transactions related to them by U.S. persons.
