The Joe Biden administration has imposed sanctions on two Indian companies for allegedly violating the US curbs on Russia by involving in the transportation of LNG (liquefied natural gas) from the warring country, according to Economic Times report.
Skyhart Management Services Private Limited and Avision Management Services Private Limited are the two Indian companies that have been slapped with sanctions, according to a statement from the US Department of State, a Business Standard report states.
Both the companies are based in Gurugram district of Haryana.
“Skyhart and Avision are being designated pursuant to section 1(a)(vi)(B) of E.O. 14024 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of LLC ARCTIC LNG 2,” the statement said.
The State Department identified two vessels – Pravasi and Onyx – as properties of Avision, which were found to be involed in the Russian LNG transportation.
The US government imposed sanctions on more than 200 entities and individuals for their involvement in Russia’s energy sector, the key source of revenue fuelling Moscow’s war against Ukraine.
US Secretary of State Antony Blinken said: “The United States is imposing sanctions today on more than 200 entities and individuals involved in Russia’s energy sector and identifying more than 180 vessels as blocked property. This wide-ranging, robust action will further constrain revenues from Russia’s energy resources and degrade Putin’s ability to fund his illegal war against Ukraine.”
“Of these targets, the Department of State is sanctioning nearly 80 entities and individuals, including those engaged in the active production and export of liquefied natural gas (LNG) from Russia. Others include those attempting to expand Russia’s oil production capacity; those providing support to the US-sanctioned Arctic LNG 2 project; those involved in Russia’s metals and mining sector; and senior officials of State Atomic Energy Corporation Rosatom,” he said.
Blinken also said that the Department of the Treasury is concurrently sanctioning more than 150 entities and individuals, including major Russian oil producers Gazprom Neft and Surgutneftegas, Russian insurance companies, and shadow fleet vessels.
“Treasury is also identifying the energy sector of the Russian Federation, which restricts further Putin’s ability to generate revenue and fund Russia’s malign conduct. Treasury also issued a new determination prohibiting the provision of certain services to persons in the Russian Federation, thereby cutting off Russia’s access to US services related to the extraction and production of crude oil and other petroleum products,” he said.
Catch all the Business News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Business NewsNewsUs NewsBiden administration imposes sanctions on 2 Indian companies for violating US curbs on Russia: Report
MoreLess
First Published
:
12 Jan 2025, 04:57 PM IST
