Russia-Ukraine war: US makes big move against India, imposes sanctions on Indian companies for…

The US on Wednesday imposed sanctions on 398 companies in over a dozen countries, including India, who are accused of supplying cutting-edge technology to Moscow used in the Russia-Ukraine war.

Russia-Ukraine war: In a major move targeting countries lending support to Russia in its war on Ukraine, the United States on Wednesday said it has imposed sanctions on as many as 398 companies, including some Indian firms, for allegedly providing services enabling the Russian war machine and helping Moscow evade and bypass sanctions.

According to a statement issued by US Treasury and Homeland Security department, 398 firms, from over a dozen countries, including India, Russia, China, Hong Kong, UAE, Turkey, Thailand, Malaysia, Switzerland, have been sanctioned for providing material support to Kremlin and/or helping Russia evade sanctions imposed by US and allies since war against Ukraine broke out in February 2022.

Sanctioned companies supplied cutting-edge military tech to Russia

The US has claimed that 274 companies out of the 398, allegedly supplied cutting-edge military technology to Russia. The sanctioned firms include Russian defense manufacturer which produce or assemble military equipment used by Russia in its war on Ukraine, they said.

Additionally, the US State Department has imposed diplomatic sanctions on senior Russian Defense Ministry officials and key personnel from Russian defense firms, apart from sanctioning some several Chinese companies and individuals from Belarus.

Russia’s economy, military might flourishing despite US sanctions

The United States has imposed sanctions on thousands of companies and individuals linked to Moscow, since the Russia-Ukraine war broke out in early 2022.

Wednesday’s sanctions are the latest in the thousands imposed earlier on Russian firms, especially defense manufacturers, and their suppliers, who are accused of providing material support to Moscow and fueling the Russian war machine in its ‘invasion’ of Ukraine. However, many geopolitical experts have questioned the efficacy of US sanctions, noting that Russia continues to bolster its economy and military power, by selling its oil and gas in international markets, despite thousands of sanctions.

Indian companies sanctions

Amongst the nearly 400 companies sanctioned by the US on Wednesday, a few are Indian firms. One of the notable names is Futurevo, an Indian firm which is accused of supplying key technologies to Russia, used in the Orlan drone, Reuters reported.

As per the report, Shreya Life Sciences Private Limited, another Indian company, has also been sanctioned, as the US claims that the firm has “smuggled” hundreds of technologies with US trademarks to Russia since 2023, worth crores of dollars.