The United States Department of the Treasury has removed four Indian companies from its Specially Designated Nationals (SDN) List, reversing sanctions imposed nearly two years ago. The decision comes as part of the Office of Foreign Assets Control’s (OFAC) latest sanctions update and marks a significant development for the affected firms. The latest move confirms that the US removes four Indian companies from sanctions list.
Which Indian Companies Were Delisted?
As the US removes four Indian companies from sanctions list, the entities taken off the SDN List include Hyderabad-based RRG Engineering Technologies Private Limited and Lokesh Machines Limited, Ahmedabad-based Galaxy Bearings Limited, and Delhi-based Shaurya Aeronautics Private Limited.
The companies were sanctioned in 2024 under Executive Order 14024. The order targeted businesses and individuals accused of providing financial, technological, material, or other forms of support to the Russian government following Russia’s invasion of Ukraine in 2022.
Why Were These Companies Sanctioned?
The sanctions formed part of Washington’s broader effort to prevent countries and businesses from helping Russia bypass international restrictions. Following the action, India maintained that it remains a responsible member of the international community and follows international export-control norms.
The Ministry of External Affairs also stated that India regularly engages with businesses to ensure compliance with domestic export-control regulations. Now that the US removes four Indian companies from sanctions list, the decision signals a notable shift in OFAC’s latest review.
Publicly Listed Firms Among Those Delisted
Two of the companies removed from the sanctions list—Lokesh Machines Limited and Galaxy Bearings Limited—are publicly listed firms.
Lokesh Machines supplies engineering solutions to several global manufacturers, including John Deere, Cummins, Volvo, Honda, and Suzuki. Meanwhile, RRG Engineering Technologies has close ties to India’s aviation sector. Its Chairman and Managing Director, G.M. Ganga Rao, previously served as an industry expert on the Ministry of Civil Aviation’s task force for unmanned aerial vehicle (UAV) technology.
As the US removes four Indian companies from sanctions list, the Treasury Department also announced new sanctions against several individuals and organisations allegedly linked to drug trafficking networks in Mexico.
FAQs
Q1. Which companies did the US remove from sanctions list?
A. The US removed RRG Engineering Technologies, Lokesh Machines, Galaxy Bearings, and Shaurya Aeronautics from its SDN List.
Q2. Why did the US remove four Indian companies from sanctions list?
A. OFAC announced the delisting as part of its latest sanctions update after reviewing its Specially Designated Nationals List.
Q3. Why were these Indian companies sanctioned earlier?
A. They were sanctioned in 2024 under Executive Order 14024 over allegations of supporting Russia through financial, material, or technological assistance.
Q4. What does it mean when the US removes four Indian companies from sanctions list?
A. Delisting means the companies are no longer subject to the specific US sanctions imposed under the SDN designation.
