Indian company among 27 faces EU sanctions

London: 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. 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.