US Treasury announces removal of 4 Indian companies from sanctions list
Washington, July 2 -- 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 ma...
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