New Delhi: The US Treasury has removed four Indian firms from its Specially Designated Nationals (SDN) list in its latest update, reversing sanctions imposed nearly two years ago that linked the companies to Russia-related activity.
The de-listings are part of a wider revision to the SDN roster that also added figures alleged to be part of Mexican drug-trafficking networks.
Hyderabad-based RRG Engineering Technologies Private Limited, Lokesh Machines Limited from Hyderabad, Ahmedabad’s Galaxy Bearings Ltd and Shaurya Aeronautics Private Limited of Delhi were all taken off the Office of Foreign Assets Control (OFAC) list, as reported by Hindustan Times. OFAC had added them in 2024 under Executive Order 14024, which targets entities accused of supplying financial, material, technological or other assistance to the Russian government following its 2022 invasion of Ukraine.
Washington said the original measures aimed to block attempts to evade sanctions imposed on Russia. After the 2024 listings, New Delhi engaged with US officials to discuss the matter.
The Indian ministry of external affairs emphasised that India “is a responsible member of the international community” and noted its participation in major multilateral export-control frameworks, along with regular outreach to help Indian companies comply with export-control rules and domestic laws.
The de-listings were announced alongside a broader SDN update that included several additions, among them individuals and entities allegedly tied to drug trafficking in Mexico. In its statement, OFAC also noted the release of its quarterly licensing report under the Trade Sanctions Reform and Export Enhancement Act for the January–March 2026 period.
Two of the four firms removed from the sanctions list — Galaxy Bearings Limited and Lokesh Machines Limited — are listed companies. Lokesh Machines counts several global manufacturers among its clients, including US-based John Deere and Cummins, Sweden’s Volvo, and Japan’s Honda and Suzuki.
RRG Engineering Technologies has connections to 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 charged with fast-tracking unmanned aerial vehicle technology.
