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US removes four Indian companies from Russia sanctions list
The Times of India··2 Jul
The United States removed four Indian companies from the Office of Foreign Assets Control sanctions list on Tuesday, July 1, 2026, according to a Treasury update. The firms were Hyderabad-based RRG Engineering Technologies and Lokesh Machines, Ahmedabad-based Galaxy Bearings and New Delhi-based Shaurya Aeronautics. They had been sanctioned for allegedly supplying advanced technology and equipment to Russia's military-industrial base.
Prism
What It Means For You
- Indian exporters face compliance risks when trading with sanctioned destinations.
- Delisted firms may resume normal US banking and payment channels.
- Defence and dual-use supply chains remain under international scrutiny.
What's Happening
- Four Indian companies were removed from the US OFAC sanctions list.
- They had been listed for alleged Russia military supply links.
- The Treasury did not state a reason for the delisting.
Sanctions Context
- Galaxy Bearings was sanctioned in October 2024.
- The firms are based in Hyderabad, Ahmedabad and New Delhi.
- OFAC maintains the Specially Designated Nationals and Blocked Persons List.
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