The US Treasury Department has lifted sanctions on four Indian companies that had previously been penalised for allegedly providing financial assistance to the Russian government. The companies have been removed from the Specially Designated Nationals and Blocked Persons (SDN) List, maintained by the Office of Foreign Assets Control (OFAC).
The companies now cleared from the sanctions list are:
The move follows sustained dialogue between India and the United States on the matter.
Background: 21 Indian Entities Sanctioned in 2024
In 2024, the US had imposed sanctions on 21 Indian entities — 19 companies and two individuals — accusing them of providing financial support to Russia. The action was taken under Executive Order 14024, aimed at expanding sanctions against Russia following the war in Ukraine. Washington had alleged that certain foreign firms were helping Russia circumvent international sanctions.
India's Response
After the sanctions were imposed, the Indian government took up the issue with Washington. India's Ministry of External Affairs had maintained that India is a responsible member of the international community and adheres to global export-control standards. The ministry also noted that awareness programs are run to help Indian companies comply with export-control laws, asserting that Indian firms operate within legal boundaries and do not violate regulations.
Changes to the SDN List
The US Treasury Department said OFAC has released its quarterly report on licensing activity under the Trade Sanctions Reform and Export Enhancement Act (TSRA) for the January–March 2026 period. During this period, several changes were made to the SDN list — some names were added while others were removed. According to US officials, the updated list also includes several individuals and entities linked to Mexican drug-trafficking networks. Alongside these changes, the four Indian companies were formally removed from the sanctions list.