US Treasury Drops Four Indian Firms from Its Sanctions Blacklist

The American Treasury Department has officially cleared four Indian companies from its Specially Designated Nationals list nearly two years after they were penalised over alleged links to Russia-related trade violations.

Washington has officially removed four Indian companies from its Specially Designated Nationals (SDN) sanctions list. The US Treasury Department confirmed this decision as part of a wider round of sanctions updates.

The four cleared firms are Hyderabad-based RRG Engineering Technologies Private Limited and Lokesh Machines Limited, Ahmedabad-based Galaxy Bearings Ltd, and Delhi-based Shaurya Aeronautics Private Limited.

This move arrives nearly two years after the US Office of Foreign Assets Control (OFAC) placed these firms on the SDN list. Back in 2024, OFAC sanctioned 21 Indian entities 19 companies and two individuals under Executive Order 14024. The allegation was that they provided financial, material, or technological support to the Russian government.

Those sanctions were part of Washington’s wider push to stop countries from bypassing restrictions on Russia, imposed after its 2022 invasion of Ukraine.

The US had accused Galaxy Bearings Ltd of exporting dozens of high-priority dual-use items including roller bearings and roller assemblies to Russian entities. Shaurya Aeronautics faced allegations of shipping radar apparatus, radio navigational aid apparatus, radio remote control apparatus, and electrical equipment to Russia.

RRG Engineering Technologies allegedly sent over 100 shipments of microelectronics to SDN-listed, Russia-based Arteks Limited Company. Meanwhile, Lokesh Machines reportedly dispatched dozens of shipments of machine tools to various Russian manufacturing companies.

After the original sanctions announcement, India’s Ministry of External Affairs stated that India remains a “responsible member of the international community” and follows global export-control norms, while encouraging domestic companies to comply with local regulations.

This SDN list revision was part of a broader update. It also added individuals and organisations allegedly tied to drug trafficking networks in Mexico. OFAC separately released its quarterly report on licensing activities under the Trade Sanctions Reform and Export Enhancement Act (TSRA) for the January–March 2026 period.

Two Companies Are Publicly Listed

Among the four cleared firms, Galaxy Bearings Limited and Lokesh Machines Limited are publicly traded companies.

Lokesh Machines supplies equipment to several global giants including American firms John Deere and Cummins, Sweden’s Volvo, and Japanese manufacturers Honda and Suzuki.

RRG Engineering Technologies has deep roots in India’s aviation sector. Its chairperson and managing director, GM Ganga Rao, previously served as an industry expert on the Ministry of Civil Aviation’s 2018 task force to accelerate unmanned aerial vehicle (UAV) technology.