Four Indian Companies Delisted by US Treasury
The United States Department of the Treasury has removed four Indian companies from its Specially Designated Nationals (SDN) List as part of a recent sanctions update. The delisting comes nearly two years after the firms were added to the Office of Foreign Assets Control (OFAC) sanctions list in 2024.
Companies Removed from Sanctions List
The four companies delisted are Shaurya Aeronautics Private Limited in Delhi, Galaxy Bearings Ltd. in Ahmedabad, and RRG Engineering Technologies Private Limited and Lokesh Machines Limited in Hyderabad. Galaxy Bearings Ltd. and Lokesh Machines Ltd. are publicly listed firms. Lokesh Machines serves several international companies, including Sweden's Volvo, Japan's Honda and Suzuki, and the United States' John Deere and Cummins.
Background of Sanctions
Under Executive Order 14024, which targets individuals and entities suspected of providing financial, material, technological, or other support to the Russian government, OFAC imposed sanctions on 21 Indian entities in 2024, including two individuals and 19 companies. The Ministry of External Affairs had maintained that India is a "responsible member of the international community" and participates in key multilateral export control regimes. It regularly conducts outreach programmes to ensure Indian companies comply with export control laws and do not violate domestic regulations.
Broader SDN List Update
The delistings were announced as part of a broader update to the SDN List that also included the addition of a number of individuals and organisations allegedly linked to Mexican drug trafficking networks. In a statement, OFAC said it had published its quarterly report on licensing activities conducted under the Trade Sanctions Reform and Export Enhancement Act (TSRA) for the January-March 2026 period.
RRG Engineering Technologies and Aviation Links
RRG Engineering Technologies, another company removed from the sanctions list, has links with the Indian aviation industry. Its managing director and chairperson, GM Ganga Rao, served as an industry expert on the Ministry of Civil Aviation's 2018 task force on accelerating unmanned aerial vehicle technology.
