America imposed ban on 15 Indian companies, know the reason

The US has imposed sanctions on 275 people and entities, including 15 Indian companies, for allegedly supporting Russia’s military-industrial establishments. The US Treasury Department said in a statement on Thursday that sanctions have also been imposed on companies from China, Switzerland, Thailand, and Turkey. The reason for this is that these companies are providing advanced technology and equipment to Russia, which Russia is using to run its war machinery. 

America has imposed sanctions on these Indian companies.

The list released by the Finance Department includes the names of Indian companies – Aabhar Technologies and Services Private Limited, Denvas Services Private Limited, Amsystech, Galaxy Bearings Limited, Orbit Fintrade LLP, Inovio Ventures, KDG Engineering Private Limited and Khushboo Honing Private Limited. Apart from these, Lokesh Machines Limited, Pointer Electronics, RRG Engineering Technologies Private Limited, Sharpline Automation Private Limited, Shaurya Aeronautics Private Limited, Shreeji Impex Private Limited and Shreya Life Sciences Private Limited have also been included in this list. 

America also took action on Wednesday.

Earlier on Wednesday, the US announced sanctions on nearly 400 entities and individuals for promoting Russia’s war against Ukraine. According to the statement, apart from disrupting the global tax evasion network, the action also targets domestic Russian importers and producers of key information and other material for Russia’s military-industrial establishments. Deputy Finance Minister Wally Adeyemo said, “The US and our allies will continue to take decisive action around the world to stop the flow of critical equipment and technologies needed by Russia for its illegal and immoral war against Ukraine.”

America stands firm on its resolve.

He said, “This action makes clear that we remain steadfast in our resolve to undermine Russia’s ability to arm its war machinery and to stop those who try to help it by ignoring or evading our sanctions and export controls.” The US State Department has also targeted sanctions evasion and circumvention in several third-party countries. These include several China-based companies that export dual-use goods that help meet Russia’s military-industrial needs. The US has also imposed sanctions on several senior officials of the Russian Defense Ministry and defense companies and companies supporting Russia’s future energy production and exports.