First America imposed sanctions on two major Russian oil companies. Now the European Union has banned three Indian companies with the aim of putting economic pressure on Russia. The European Union has accused these three Indian companies of allegedly having links with the Russian army.
on Thursday for alleged links with the Russian military european union Had banned 45 organizations from all over the world. Three Indian companies were also involved in this.
The European Union has taken punitive action against these companies under its 19th package of sanctions. These sanctions are part of efforts to put economic pressure on Russia against its invasion of Ukraine.
The three companies which have been banned. They include Aerotrust Aviation Private Limited, Ascend Aviation India Private Limited and Shree Enterprises.
Aerotrust is a company related to aviation sector. This company is accused of providing technical assistance to the Russian Army.
The second company Ascend Aviation is an aviation sector company. The European Union claims that this company has violated export restrictions.
The third company is a general business entity. According to the EU, this company has relations with the Russian military.
There was no immediate reaction from Indian officials on the EU action.
The European Council has identified 45 new entities that are “directly supporting” Russia’s military and military industry by “bypassing export restrictions on computer numerical control (CNC) machine tools, microelectronics, unmanned aerial vehicles (UAVs) and other advanced technology items,” an EU release said.
It says that these entities will be subject to strict restrictions on the export of dual-use items, as well as those items that can contribute to the technological development of Russia’s defense sector in general.
The European Union has said that out of these 45, there are 17 companies which are not in Russia. Of these 17, 12 are from China-Hong Kong, 3 are from India and 2 are from Thailand.
The 12 Chinese companies sanctioned by the European Union are accused of allegedly violating sanctions by supplying oil, chemicals and dual-use items to the Russian military. The European Union’s main focus is on purchasing and transporting Russian oil, which is strengthening Russia’s war economy. The European Union wants to weaken this factor. These sanctions include asset freeze, ban on financial transactions and travel ban.
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