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regular-article-logo Sunday, 14 April 2024

Indian company among 27 faces EU sanctions over dual-use exports to Russia

The latest sanctions were announced to mark two years of the Russia-Ukraine conflict, the second anniversary of which falls on Saturday

PTI London Published 23.02.24, 07:19 PM
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A company registered in India along with others registered in Russia, China, Kazakhstan, Serbia, Thailand, Sri Lanka and Turkey are among those facing export restrictions under new European Union (EU) sanctions announced on Friday.

The latest sanctions were announced to mark two years of the Russia-Ukraine conflict, the second anniversary of which falls on Saturday.

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Under the latest package of EU sanctions, companies making electronic components -- which the 27-nation European bloc believes could have dual military as well as civilian uses -- are among the foreign companies facing tougher restrictions.

The names of the companies are not yet public; they will be published in the EU's official journal later.

“Based on hard evidence from various sources, supported by trade and customs data, the package adds 27 Russian and third-country companies to the list of entities associated with Russia's military-industrial complex,” read an official statement from the European Commission.

“The EU will impose export restrictions towards these companies regarding dual-use goods and technology, as well as goods and technology which might contribute to the technological enhancement of Russia's defence and security sector,” it said.

The package covers: 17 Russian companies which are involved in the development, production and supply of electronic components, particularly used in connection with drone production; four companies registered in China and “one each registered in Kazakhstan, India, Serbia, Thailand, Sri Lanka, and Türkiye, also trading in the area of electronic components, including of EU-origin.” The latest restrictions form part of the 13th package of sanctions against Russia by the European bloc and focus on further limiting Russia's access to military technologies, such as drones, and on listing additional companies and individuals involved in Russia's war effort.

With the new package, the European Commission said the number of individual listings has reached over 2,000, “dealing a huge blow to those who enable Russia's illegal war against Ukraine.” “This package further deepens our actions to stop Russia from acquiring Western sensitive technologies for the Russian military. Unmanned aerial vehicles, or drones, have been central to Russia's war against Ukraine. This package thus specifically lists companies procuring Russia with key drone components and introduces some sectoral sanctions to close loopholes and make drone warfare more complicated,” it noted.

In addition, the package expands the list of advanced technology items that may contribute to Russia's military and technological enhancement or to the development of its defence and security sector.

It adds components used for the development and production of drones, such as electric transformers, static converters and inductors found inter alia in drones, as well as aluminium capacitors, which have military applications, such as in missiles and drones and in communication systems for aircraft and vessels. This will further weaken Russia's military capabilities, the European Commission said.

Except for the headline, this story has not been edited by The Telegraph Online staff and has been published from a syndicated feed.

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