US lifts sanctions on four Indian firms previously listed over Russia-related concerns

The United States Department of the Treasury has removed four Indian entities from its Specially Designated Nationals (SDN) List as part of its latest sanctions update.

The delisted companies 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 move comes nearly two years after the four firms were placed on the sanctions list by the US Office of Foreign Assets Control (OFAC). In 2024, OFAC had sanctioned 21 Indian entities — including 19 companies and two individuals — under Executive Order 14024 for allegedly providing financial, material or technological support to the Russian government.

The sanctions were part of Washington’s broader efforts to prevent the circumvention of restrictions imposed on Russia following its invasion of Ukraine in 2022.

After the sanctions were announced, the Indian government said it had raised the issue with US authorities. The Ministry of External Affairs had said India remains a “responsible member of the international community” and follows global export-control norms while encouraging companies to comply with domestic regulations.

The removal of the four Indian entities was part of a wider SDN List update that also included the addition of individuals and organisations allegedly linked to drug trafficking networks in Mexico.

OFAC said it had also 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 Indian firms removed from the list, Galaxy Bearings Limited and Lokesh Machines Limited are publicly listed companies.

Lokesh Machines supplies equipment to several major global manufacturers, including US-based John Deere and Cummins, Sweden’s Volvo, and Japanese companies Honda and Suzuki.

RRG Engineering Technologies, another company removed from the sanctions list, has connections with 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 focused on accelerating unmanned aerial vehicle (UAV) technology.