'Sanctions not in violation of Indian law': India responds to US crackdown on Indian companies in connection with Russia
PTC News Desk: India has responded to the US crackdown on Indian companies in connection with Russia in regard to Russia Ukraine war. The Ministry of External Affairs on Saturday reacted to the recent U.S. sanctions imposed on several Indian firms and nationals stating that Indian companies have not violated any laws.
Earlier on October 30, the US Treasury Department announced sanctions against nearly 400 entities and individuals from 17 countries, calling them “Third-Country Sanctions Evaders.” This list included 19 Indian companies, which, according to the US, have been assisting Russia in its conflict with Ukraine.
Randhir Jaiswal, MEA spokesperson, stated, "We have seen reports on U.S. sanctions. India has a robust legal and regulatory framework on strategic trade and nonproliferation controls. We are also a member of three key multilateral non- proliferation export control regimes - the Wassenaar Arrangement, the Australia Group and the Missile Technology Control Regime, and have been effectively implementing relevant UNSC sanctions and UNSC resolution 1540 on non- proliferation."
"Our understanding is that the sanctioned transactions and companies are not in violation of Indian laws. 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.
In addition to Indian firms, US sanction list also includes companies from Malaysia, Turkey, Uzbekistan, Singapore, and the UAE. This move comes shortly after it indicted Indian official in foiled murder plot of Gurpatwant Singh Pannun
- With inputs from agencies
