The European Union (EU) has imposed sanctions on three India-based companies, along with 44 others from different countries, for their suspected connections with Russia’s military. These measures are part of the EU’s 19th round of sanctions aimed at putting more economic pressure on Moscow for its invasion of Ukraine. Indian officials have not yet commented on the move.
Which are the three Indian firms?
The EU statement named the three Indian companies included in the 19th round of sanctions as Aerotrust Aviation Private Limited, Ascend Aviation India Private Limited, and Shree Enterprises.
Why the sanctions?
According to the statement put out by the European Union, the European Council identified 45 new organisations accused of helping Russia’s military and industrial network. These entities were said to have helped Moscow bypass export restrictions on items such as microelectronics, unmanned aerial vehicles (UAVs), computer numerical control (CNC) machines, and other advanced technology.
What do these sanctions mean for the companies?
The EU added that all sanctioned firms will now face tighter export rules for goods that can be used for both civilian and military purposes. “These entities will be subject to tighter export restrictions with regard to dual-use goods, as well as items which might generally contribute to the technological enhancement of Russia’s defence sector,” the statement said.
Out of the 45 sanctioned entities, 17 are based outside Russia, including 12 in China (and Hong Kong), three in India, and two in Thailand.
EU’s earlier sanctions
EU in its 18th Russia sanctions package had targeted a Rosneft-linked refinery in India in July this year. The Ministry of External Affairs had then rejected the European Union’s sanctions sayin that India does not accept unilateral sanctions imposed by any country or group and called on the EU to avoid applying “double standards”, particularly in matters of energy trade.
The ministry had maintained that India remains a responsible global player and follows all its legal commitments. It also stressed that ensuring the country’s energy security is a top priority for the government, as it is essential to meet the basic needs of its citizens.