New Delhi, Nov 2 (UNI) India on Saturday said that the Indian firms sanctioned by the US are not in violation of Indian laws, and is working to sensitise Indian companies on applicable export control provisions.
MEA spokesperson Randhir Jaiswal, answering questions on the US sanctions on over 19 Indian companies for selling “dual use” tech to the Russian military, said:
“We have seen reports on US sanctions. India has a robust legal and regulatory framework on strategic trade and nonproliferation controls. We are also a member of three key multilateral non- proliferation export control regimes - the Wassenaar Arrangement, the Australia Group and the Missile Technology Control Regime, and have been effectively implementing relevant UNSC sanctions and UNSC resolution 1540 on non- proliferation.
“Our understanding is that the sanctioned transactions and companies are not in violation of Indian laws. Nevertheless, in keeping with India's established non-proliferation credentials, we are working with all the relevant Indian departments and agencies to sensitise Indian companies on applicable export control provisions, as also inform them on new measures being implemented that could impact Indian companies in certain circumstances.
“Regular strategic trade/export control outreach events for Indian industries and stakeholders are being carried out by agencies of the Government of India. We are also in touch with the US authorities to clarify issues.”
Amidst the ongoing Ukraine conflict, the US has sanctioned 19 Indian companies and two nationals for allegedly selling supplies and “dual use” technology to the Russian military.
As per the list released by the Department of Treasury on Thursday, the 19 India-based companies are Abhar Technologies and Services Private Limited; Denvas Services Private Limited; Emsystech; Galaxy Bearings Ltd; Orbit Fintrade LLP; Innovio Ventures; KDG Engineering Private Limited; and Khushbu Honing Private Limited.
The Indian companies include Lokesh Machines Limited; Pointer Electronics; RRG Engineering Technologies Private Limited; Sharpline Automation Private Limited; Shaurya Aeronautics Private Limited; Shreegee Impex Private Limited; and Shreya Life Sciences Private Limited.
On Wednesday, the US announced sanctions on as many as 398 companies, including four Indian companies along with firms from Russia, China, Malaysia, Thailand, Turkey, and the United Arab Emirates.
The companies have been accused of shipping items such as microelectronics and supplying other materials which will be used by Russia in weapons technology.
According to reports, the four Indian companies in the sanctions list include Ascend Aviation India Private Limited, Mask Trans, TSMD Global Private Limited and Futrevo.
UNI RN