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News » India News » MEA responds to US sanctions on Indian firms amid tensions between Russia and Ukraine

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MEA responds to US sanctions on Indian firms amid tensions between Russia and Ukraine

NM Desk
Last updated: 3 November, 2024 7:40 AM
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MEA responds to US sanctions on Indian firms amid tensions between Russia and Ukraine
MEA responds to US sanctions on Indian firms amid tensions between Russia and Ukraine

New Delhi: The Ministry of External Affairs (MEA) of India has issued a robust response to the recent sanctions imposed by the United States on several Indian entities and individuals. This move by the US State Department targets 19 Indian firms and two individuals, who are accused of allegedly supplying materials and technology to Russia, purportedly to bolster its military efforts during the ongoing conflict in Ukraine.

Randhir Jaiswal, the spokesperson for the MEA, articulated India’s position on the matter during a press briefing. He emphasized that Indian companies have not breached any national laws, asserting, “We have seen reports on U.S. sanctions. India has a robust legal and regulatory framework on strategic trade and nonproliferation controls.” He highlighted India’s commitment to global non-proliferation norms, mentioning that India is a member of three pivotal multilateral non-proliferation export control regimes, the Wassenaar Arrangement, the Australia Group, and the Missile Technology Control Regime.

Jaiswal elaborated that India has been diligent in implementing relevant United Nations Security Council (UNSC) sanctions, particularly UNSC Resolution 1540, which focuses on preventing the proliferation of weapons of mass destruction. “Our understanding is that the sanctioned transactions and companies are not in violation of Indian laws,” he stated confidently.

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In light of the sanctions, the MEA is taking proactive steps to ensure that Indian businesses are well-informed about export control provisions. Jaiswal noted that the government is actively engaging with various Indian departments and agencies to raise awareness among companies about applicable regulations. He mentioned ongoing outreach initiatives aimed at educating Indian industries and stakeholders about strategic trade and export controls.

“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,” he added.

The sanctions come amid a backdrop of heightened tensions between Russia and Ukraine, a situation that has drawn international scrutiny and varying responses from nations around the world. The US has taken a particularly hard stance against nations and entities it believes are supporting Russia, resulting in these latest measures aimed at Indian companies.

Among the companies named in the sanctions is Shreegee Impex Private Limited, which operates out of Meerut. Praveen Tyagi, the director of the firm, expressed bewilderment over the sanctions while maintaining that his business operates strictly within the confines of Indian law. “I don’t know why these measures have been imposed on us,” Tyagi was quoted as saying by NDTV. However, he was quick to add that the sanctions would not adversely affect his company’s operations, given that they neither import from nor export to the United States.

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TAGGED:India-US tiesMEA responds to US sanctionsrandhir jaiswalRussia and Ukraine warUS sanctions on Indian firms
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