America imposed ban on many Indian companies, is Modi government taking action?

New Delhi: America has imposed sanctions on many Indian companies due to their military ties with Russia, over which India has expressed concern. The Foreign Ministry has said that it is talking to America on this issue. America alleges that these Indian companies are supporting Russia’s military-industrial establishment. Foreign Ministry spokesperson Randhir Jaiswal said that India is in touch with America regarding this matter. he/she said India has a ‘strong legal and regulatory framework’ on strategic trade and non-proliferation controls. “We are also members of the three major multilateral non-proliferation export control regimes,” he/she said. “In keeping with India’s established non-proliferation reputation, we continue to work with all relevant departments and agencies on export control provisions applicable to Indian companies,” Jaiswal said. We are working to sensitize them and also inform them about the new measures being implemented, which may impact Indian companies in certain circumstances. The US has imposed sanctions on 275 individuals and companies, including 15 from India, for allegedly supporting Russia’s military-industrial establishment.

What is the whole matter?

The US Treasury Department said in a statement on Thursday that sanctions have also been imposed on companies from China, Switzerland, Thailand and Turkey for supplying advanced technology and equipment to Russia. In addition to disrupting global piracy networks, the action also targets domestic Russian importers and producers of key commodities and other materials for Russia’s military-industrial base, the statement said. Jaiswal said on Saturday, ‘We have seen reports related to US sanctions.’
“We are also in touch with US officials to clarify the issues,” he/she said.