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US Sanctions Indian Firms for Supporting Russia’s War Efforts

  • 05 Nov 2024
  • 2 min read

Source: BS 

The United States imposed sanctions on nearly 400 entities and individuals, including 19 Indian firms and two Indian nationals, for allegedly aiding Russia's war efforts in Ukraine. 

  • This action highlights the US effort to restrict Russia's military by limiting access to critical technology and supplies. 
  • Sanctions restrict or terminate economic relations and can include trade bans, asset freezes, and denial of access to financial systems. 
    • Types of sanctions include comprehensive (e.g., US embargo on Cuba) or targeted (specific individuals or companies). 
  • Global Mechanisms: Sanctions can be imposed by individual countries or international bodies like the United Nations, although enforcement is carried out by member states. 
    • Despite extensive sanctions, Russia's economy remains resilient, supported by trade with nations like India and China. 
  • Historically, India faced international trade restrictions after its nuclear tests in 1974 and 1998, India also sanctioned other nations.  

Read more: U.S.A’s Position on CAATSA 

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