US Lifts Sanctions On Four Indian Entities Linked To Russia-Related Order
US Lifts Sanctions On Four Indian Entities Linked To Russia-Related Order Published By, Last Updated: July 01, 2026, 11:10 IST The US Treasury's Office of
US Lifts Sanctions On Four Indian Entities Linked To Russia-Related Order Published By, Last Updated: July 01, 2026, 11:10 IST The US Treasury's Office of Foreign Assets Control (OFAC) announced the removals as part of its latest update to the SDN List. Rapid Read File image of US Treasury Secretary Scott Bessent. (Courtesy: Reuters) The United States Treasury Department has removed four Indian companies from its Specially Designated Nationals (SDN) List, providing relief to the firms that had previously been sanctioned under an executive order linked to Russia. The entities delisted are Hyderabad-based RRG Engineering Technologies Private Limited and Lokesh Machines Limited, Ahmedabad-based Galaxy Bearings Ltd, and Delhi-based Shaurya Aeronautics Private Limited. The US Treasury’s Office of Foreign Assets Control (OFAC) announced the removals as part of its latest update to the SDN List, which also included the addition of several individuals and entities linked to drug trafficking networks in Mexico.
The four Indian firms had earlier been designated under Executive Order 14024, which authorises sanctions against individuals and entities involved in activities related to Russia. Alongside the sanctions update, OFAC also released its quarterly report on licensing activities carried out under the Trade Sanctions Reform and Export Enhancement Act (TSRA) for the January-March 2026 period. The agency said the latest update involved both additions to and removals from the sanctions register. The US Treasury did not specify the reasons for removing the four Indian companies from the sanctions list. Entities placed on the SDN List are generally subject to asset freezes under US jurisdiction and restrictions on financial transactions involving US persons or institutions. Removal from the list lifts those restrictions. The development came days after Washington partially eased sanctions on Iranian oil exports following what it described as encouraging diplomatic talks with Tehran.
The US Treasury issued a 60-day sanctions waiver allowing the production, delivery and sale of Iranian oil, along with related services such as shipping, insurance and banking. The waiver, valid until August 21, forms part of a memorandum of understanding signed between Washington and Tehran on June 17. Under the waiver, Iran can sell oil from previously sanctioned vessels, while Iranian banks can receive payments directly from overseas, making it easier for the country to access oil revenues and foreign exchange. Analysts have described the temporary waiver as a significant economic boost for Tehran, though the broader US sanctions regime on Iran remains in place. News18 Newsletter Handpicked stories, in your inbox A newsletter with the best of our journalism submit About the Author Shobhit Gupta Shobhit Gupta is a sub-editor at News18.com and covers India and International news.
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