US sanctions 15 Indian entities among 275 for supporting Russia's military-industrial base
Washington (PTI): The US has imposed sanctions on 275 individuals and entities, including 15 from India, for allegedly supporting Russia’s military-industrial base.
Companies from China, Switzerland, Thailand, and Turkiye have also been slapped with sanctions for supplying Russia with advanced technology and equipment that it desperately needs to support its war machine, the Department of Treasury said in a statement on Thursday.
In addition to disrupting global evasion networks, this action also targets domestic Russian importers and producers of key inputs and other material for Russia’s military-industrial base, the statement said.
“The United States and our allies will continue to take decisive action across the globe to stop the flow of critical tools and technologies that Russia needs to wage its illegal and immoral war against Ukraine,” Deputy Secretary of the Treasury Wally Adeyemo said.
“As evidenced by today’s action, we are unyielding in our resolve to diminish and degrade Russia’s ability to equip its war machine and stop those seeking to aid their efforts through circumvention or evasion of our sanctions and export controls,” Adeyemo said.
The State Department has also targeted sanctions evasion and circumvention in multiple third countries, including several China-based companies exporting dual-use goods that fill critical gaps in Russia’s military-industrial base and entities and individuals in Belarus related to the Lukashenka regime’s support for Russia’s defence industry, the statement said.
The US also targeted several senior Russian Ministry of Defence officials and defence companies and those supporting Russia’s future energy production and exports.
As per the list released by the Department of Treasury, the 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 also 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 had imposed sanctions on nearly 400 entities and individuals for enabling Russia’s illegal war against Ukraine.
"The Department of State is targeting sanctions circumvention by parties in multiple third countries, several senior Russian Ministry of Defence officials and defence companies, and those that support the development of Russia’s future energy production and exports," Secretary of State Antony Blinken had said in a statement on Wednesday.
The US, he said, is imposing sanctions on several Chinese companies exporting dual-use goods that fill critical gaps in Russia’s military-industrial base as well as entities and individuals connected to the Lukashenka regime’s support for Russia’s defence industry.
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Rupee falls 9 paise to all-time low of 90.58 against US dollar in early trade
Mumbai (PTI): Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front.
At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close.
On Friday, the rupee had slipped 17 paise to close at an all-time low of 90.49 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.35.
Brent crude, the global oil benchmark, was trading higher by 0.52 per cent at USD 61.44 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 298.86 points lower at 84,968.80, while the Nifty was down 121.40 points at 25,925.55.
Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday, according to exchange data.
"FPIs continue to be in selling mode in equity and debt while RBI has been selling dollars to fund their long positions," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
