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America has already banned many Indian companies accusing them of helping Russia and Iran.
The US has banned 398 companies from more than a dozen countries like Russia, China, Malaysia, Thailand, Turkey and the United Arab Emirates, including 19 Indian companies. America alleges that these companies have been providing equipment to Russia since the attack on Ukraine in February 2022, which Russia is using in the war.
Most of these companies are suppliers of electronic components; While some companies also supply aircraft parts, machine tools etc.
The Government of India has not yet given any reaction on this. The US has issued a statement saying that the Department of State, Treasury and Commerce have imposed these sanctions. The US State Department has also imposed diplomatic sanctions on several senior officials of the Russian Defense Ministry and defense companies. According to him, the purpose of this ban is to punish third party countries.
What are the allegations against Indian companies? The US State Department has prepared a list of 120 companies. Four Indian companies are also included in this. Details of the allegations against them are also given in it.
These four companies include Ascend Aviation India Private Limited, Mask Trans, TSMD Global Private Limited and Futrevo.
This company works to supply spare parts as well as lubricants worldwide for the aviation industry.
America also imposed sanctions on 2 Indian citizens According to the US State Department, Ascend Aviation has sent more than 700 shipments to Russia-based companies between March 2023 and March 2024. This included items worth about US$2 lakh (more than Rs 1 crore 68 lakh).
The US has also imposed sanctions on two Indian citizens associated with Ascend Aviation. Their names are Vivek Kumar Mishra and Sudhir Kumar. According to the US State Department, both of them are associated with Ascend Aviation. According to the website of Ascend Aviation India Private Limited, this company was formed in March 2017.
Another Indian company, Mask Trans, is accused of sending goods worth 3 lakh dollars (about Rs 2.52 crore) between June 2023 and April 2024. Russia used them in aviation related work.
TSMD Global Private Limited Company is accused of giving goods worth 4.30 lakh dollars (3.61 crore rupees) to Russian companies. This included electronic integrated circuits, central processing units and other fixed capacitors.
Another company Futrevo is accused of having given electronic goods worth $14 lakh (Rs 11.77 crore) to Russia between January 2023 and February 2024.
What next…these companies will not be able to transact? According to experts, through restrictions, companies are blacklisted in the SWIFT banking system. Due to this, these companies are not able to transact with those countries which are against Russia in the Russia-Ukraine war. The assets of the companies which have been banned may also be frozen in those countries which are in favor of this ban.
America wants Russia's economy to weaken and its defense industry not to get the goods with the help of which it is fighting the war. However, this step will not have much impact on India-America relations, because the two countries already have good relations.
America has already banned Indian companies However, this is not the first time that America has targeted Indian companies. Earlier in November 2023, an Indian company was also banned for helping the Russian army.
In April 2024, sanctions were also imposed on 3 companies doing business with Iran. The Indian companies that were sanctioned included Jane Shipping, Port India Private Limited and Sea Art Ship Management Company. America alleged that these companies transfer drones to Iran. ……………………………………………
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