US Removes These 4 Indian Firms From Russia-Linked Sanctions List
The United States has dropped four Indian companies from its Russia-linked sanctions list, as per an update issued by the US Department of the Treasury's Office of Foreign Assets Control (OFAC).
- Republic Business
- 2 min read
The United States has dropped four Indian companies from its Russia-linked sanctions list, as per an update issued by the UA Department of the Treasury's Office of Foreign Assets Control (OFAC).
The companies removed from OFAC's Specially Designated Nationals (SDN) List are RRG Engineering Technologies Private Ltd, Lokesh Machines Ltd, Galaxy Bearings Ltd, and Shaurya Aeronautics Private Ltd.
The companies had previously been named under Executive Order 14024, which targets activities linked to Russia.
The recent move comes as part of OFAC's latest update to its SDN List, alongside the release of its quarterly report on licensing activities under the Trade Sanctions Reform and Export Enhancement Act (TSRA) for the January-March 2026 period.
Among the one's de-listed, Galaxy Bearings Ltd and Lokesh Machines Ltd are publicly listed companies.
In an exchange filing, Lokesh Machines noted that OFAC has removed the company from the. SDN list with effect from June 30, 2026, while adding that all property and interest in the property blocked as a result of the designation has being unblocked.
On the other hand, OFAC imposed new sanctions on multiple individuals and entities linked to drug trafficking networks.
The latest entrants being two Mexican nationals and several companies based in Mexico and the United Kingdom that were designated under counter-narcotics sanctions tied to the Jalisco New Generation Cartel (CJNG).
The quarterly report also noted that OFAC's licensing activities related to exports of agricultural commodities, medicines and medical devices to Iran under the TSRA framework during the first quarter of 2026.
The removal of the four Indian firms from the SDN List means they are no longer subject to the Russia-related sanctions imposed under Executive Order 14024, according to the Treasury Department's latest notification.
While the Galaxy Bearings stock surged 20% to hit Rs 719.20 on Wednesday, Lokesh Machines were trading 5% higher at Rs 285.70.
Published By : Nitin Waghela
Published On: 1 July 2026 at 14:38 IST