The US has imposed sanctions on 19 Indian companies accusing them of providing defense related equipment to Russia. India has given clarification on these on Saturday. Foreign Ministry spokesperson Randhir Jaiswal said, “We have seen reports of US sanctions on Indian companies. We effectively implement UNSC rules in matters related to defense exports. Randhir said, “19 companies have not violated any Indian law.” He said that we are working with all the concerned departments and agencies to make companies aware of the export rules. In fact, apart from India, the US has banned 398 companies from more than a dozen countries like Russia, China, Malaysia, Thailand, Turkey and United Arab Emirates. The US alleges that these companies have been providing equipment to Russia since the attack on Ukraine in February 2022, which Russia is using in the war. Most of these companies are suppliers of electronic equipment; while some companies also supply aircraft parts, machine tools etc. The US has issued a statement saying that their Foreign, Treasury and Commerce departments have imposed these sanctions. The US State Department also imposed diplomatic sanctions on several senior officials of the Russian Defense Ministry and defense companies. According to them, the purpose of this ban is to punish third party countries. What are the allegations against Indian companies?
The US State Department has prepared a list of 120 companies. This also includes four companies from India. It also gives details of the allegations against them. These four companies include Ascend Aviation India Private Limited, Mask Trans, TSMD Global Private Limited and Footrevo. America also imposed sanctions on 2 Indian citizens
According to the US State Department, Ascend Aviation has sent more than 700 shipments to companies based in Russia between March 2023 and March 2024. It included goods worth about 2 lakh US dollars (more than 1 crore 68 lakh rupees). The US has also imposed sanctions on two Indian citizens associated with Ascend Aviation. Their names are Vivek Kumar Mishra and Sudhir Kumar. According to the US State Department, both of them are associated with Ascend Aviation. According to the website of Ascend Aviation India Private Limited, this company was formed in March 2017. The second Indian company Mask Trans is accused of having banned the import of 100 million US dollars from June 2023. Goods worth $3 lakh (about Rs 2.52 crore) were sent between April 2024. Russia used them in aviation related works. TSMD Global Private Limited Company is accused of supplying goods worth $4.30 lakh (Rs 3.61 crore) to Russian companies. This included electronic integrated circuits, central processing units and other fixed capacitors. Another company, Footrevo, is accused of supplying electronic goods worth $14 lakh (Rs 11.77 crore) to Russia between January 2023 and February 2024. What next… These companies will not be able to transact? According to experts, through the ban, companies are blacklisted in the SWIFT banking system. Due to this, these companies are not able to transact with those countries which are against Russia in the Russia-Ukraine war. The assets of the companies which are banned can also be frozen in those countries which are in favor of this ban. America wants Russia’s economy to weaken and its defense industry to be affected. So that the US does not get the goods with the help of which it is fighting the war. However, this move will not have much effect on India-US relations, as the two countries already have good relations. America has already banned Indian companies
However, this is not the first time that America has targeted Indian companies. Earlier in November 2023, an Indian company was also banned for helping the Russian army. In April 2024 also, 3 companies doing business with Iran were banned. The Indian companies which were banned included Gen Shipping, Port India Private Limited and Sea Art Ship Management Company. America alleged that these companies transfer drones of Iran.
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