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US removes 4 Indian companies from Russia-related sanctions list
RRG Engineering Technologies, Lokesh Machines, Galaxy Bearings and Shaurya Aeronautics were removed from the sanctions list maintained by the US Treasury Department’s Office of Foreign Assets Control
Washington: The United States on Tuesday removed four Indian companies from its sanctions list after they had been designated over their alleged business links with Russia.
The four companies -- RRG Engineering Technologies, Lokesh Machines, Galaxy Bearings and Shaurya Aeronautics --were removed from the sanctions list maintained by the US Treasury Department’s Office of Foreign Assets Control (OFAC). All four had been sanctioned in October 2024.
According to the US Treasury, Hyderabad-based RRG Engineering Technologies shipped more than 100 consignments of microelectronics to Russia-based Arteks Limited Company, which is under US sanctions. Lokesh Machines was accused of supplying dozens of shipments of machine tools to Russian manufacturers.
The Treasury had also alleged that Lokesh Machines employees coordinated with sanctioned Russian procurement agent Dmitrii Vladimirovich Alikhanov and his company, Newton-ITM, to import Italy-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 apparatus.
The Treasury 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 following the Ukraine conflict. The sanctions blocked any property or interests in property of the designated entities that came within US jurisdiction and generally prohibited transactions involving them by US persons.
