New Delhi, The European Union (EU) has expanded its sanctions regime to include an Indian company accused of aiding Russia in its ongoing conflict with Ukraine. This move is part of a broader sanctions package targeting nearly 200 entities and individuals for their purported roles in facilitating Russia’s military operations or involvement in the abduction of Ukrainian children.

According to Kashmir Media Service, reports from Reuters and Bloomberg highlight the accusations against the Indian firm, alleging it assisted Russia in obtaining prohibited components and technologies critical for its ‘war machine.’ The Financial Times, citing the sanctions proposal, emphasized the necessity of including entities from third countries that indirectly bolster Russia’s military and industrial complex through trade in such components.

This round of sanctions, which also affects companies in mainland China, Sri Lanka, Thailand, and Turkey, marks the first occasion that Indian and Chinese businesses have been placed under EU sanctions. The measures restrict travel to the EU and prohibit business activities within its jurisdiction for those listed. The specific names of the entities and individuals will be disclosed upon publication in the EU’s legal journal.

India’s position regarding the conflict has been to refrain from openly criticizing Russia, while advocating for an end to the hostilities. In the wake of sanctions imposed on Russia by the G7 nations, India has notably increased its purchase of discounted Russian oil, justifying these acquisitions as economically prudent. Reports from Reuters indicate that India became the largest purchaser of Russian oil, with Russian imports constituting up to 40% of India’s total oil imports in the first half of the fiscal year 2023-24.

Indian External Affairs Minister S. Jaishankar, in a recent interview with a German newspaper, defended India’s relationship with Russia, stating, “Russia has never hurt our interests” in the context of independent India’s foreign relations. This stance, coupled with the latest EU sanctions, underscores the complex geopolitical dynamics surrounding the Ukraine conflict and India’s strategic interests.