ISLAMABAD: The United States has sanctioned 398 companies in more than a dozen countries, including some Indian companies, in a significant effort to crack down on international assistance to Russia in its war in Ukraine.
The sanctions, announced by the US Treasury and Department of Homeland Security, are against organisations that are alleged to support the military capabilities of Russia or assist Moscow in evading the current sanctions imposed by the US and its allies since the invasion started in February 2022, according to the Times of India.
US authorities believe that 274 of the blacklisted companies have provided high-technology military equipment to Russia. These are manufacturers who are involved in the production and assembly of equipment used in the current conflict.
Individuals are also subject to sanctions, such as senior officials of the Russian Ministry of Defence and employees of major defence companies. Moreover, the US has targeted Chinese firms and Belarusian citizens suspected of helping Moscow.
The action is part of the ongoing attempt by Washington to diminish the capability of Russia to maintain its military activities. Thousands of sanctions have been imposed on people and organisations associated with the Kremlin, especially in the defence and energy sectors, since the war began.
Nevertheless, there are still doubts about the effectiveness of these measures in general. Nevertheless, Russia has been able to preserve and even increase the aspects of its military and economic operations despite the comprehensive regime of sanctions, thanks in large part to the continued export of oil and gas to foreign markets.
One of the companies listed in the new set of sanctions is Indian firm Futurevo, which is alleged to have provided essential parts that are used in the Orlan surveillance drones in Russia. Shreya Life Sciences Private Limited is another Indian company that has been charged with the illegal export of US-branded technologies to Russia, which is estimated to be worth millions of dollars since 2023.
The fact that Indian companies are included in this sanctions list may have serious consequences on international trade relations, particularly since Washington is still exerting pressure on nations to abandon economic collaboration with Moscow.
As the war in Ukraine enters its third year, this new move is an indication that Washington is determined to squeeze the global networks that supply resources to the Russian military. It is yet to be seen how these sanctions will affect the mentioned firms and the geopolitical processes as a whole.
