The United States Department of the Treasury has removed four Indian companies from its Specially Designated Nationals (SDN) List in its latest round of sanctions updates.
The four entities taken off the sanctions list 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 decision comes nearly two years after the companies were added to the sanctions list maintained by the US Office of Foreign Assets Control (OFAC). In 2024, OFAC imposed sanctions on 21 Indian entities, comprising 19 companies and two individuals, under Executive Order 14024, alleging they had provided financial, technological, material or other forms of support to the Russian government.
The sanctions formed part of Washington’s broader effort to prevent the circumvention of restrictions imposed on Russia following its 2022 invasion of Ukraine.
Following the sanctions, the Indian government said it had taken up the matter with US authorities.
The Ministry of External Affairs had stated that India is a responsible member of the international community and participates in key multilateral export control regimes. It also noted that the government regularly conducts outreach programs to ensure Indian companies comply with export control regulations and domestic laws.
The removal of the four Indian companies was announced as part of a wider update to the SDN List, which also included fresh sanctions against several individuals and organisations allegedly linked to drug trafficking networks in Mexico.
In a statement, the Treasury Department’s Office of Foreign Assets Control (OFAC) said it had also released its quarterly report covering licensing activities conducted under the Trade Sanctions Reform and Export Enhancement Act (TSRA) for the period between January and March 2026.
Two firms are publicly listed
Among the four Indian companies removed from the sanctions list, Galaxy Bearings Limited and Lokesh Machines Limited are publicly traded firms.
Lokesh Machines supplies components to several leading global manufacturers, including US companies John Deere and Cummins, Sweden’s Volvo, and Japanese automakers Honda and Suzuki.
Another company removed from the sanctions list, RRG Engineering Technologies, has significant ties to India’s aviation sector. Its Chairperson and Managing Director, GM Ganga Rao, served as an industry expert on the Ministry of Civil Aviation’s 2018 task force established to accelerate the development of unmanned aerial vehicle (UAV) technology.
