Following the announcement of sweeping sanctions by the United States against companies and individuals deemed to be supporting Russia, India has initiated communication with US authorities to address concerns and seek clarifications. The sanctions list, released earlier this week, included 19 Indian companies and two individuals, sparking concerns within the country.
However, the Ministry of External Affairs (MEA) has maintained that the entities included on the list have not violated any Indian laws. In a statement released on Saturday, MEA Spokesperson Randhir Jaiswal emphasized, “Our understanding is that the sanction, transactions and companies are not in violation of Indian laws. Nevertheless, in keeping with India’s established non-proliferation credentials, we are working with all the relevant Indian departments and agencies to sensitize Indian companies on applicable export control provisions and also inform them of new measures being implemented that could impact Indian companies in certain circumstances.”
The MEA’s statement underscores the importance of India’s commitment to its non-proliferation policies while also acknowledging the potential impact of US sanctions on Indian businesses. The move to engage with US authorities reflects India’s efforts to navigate the complex geopolitical landscape and ensure that its companies are fully aware of and compliant with international regulations. This engagement is crucial for India to safeguard its economic interests while upholding its international commitments.
