The U.S. has lifted four Indian firms from its sanctions list after those firms were accused of providing high-end technology and military equipment to support Russia's military-industrial base, PTI reported on Wednesday.

The Companies Involved

The delisted companies include RRG Engineering Technologies Private Limited (Hyderabad), Lokesh Machines Limited (Hyderabad), Galaxy Bearings Limited (Ahmedabad) and Shaurya Aeronautics Private Limited (New Delhi). 

The US Department of the Treasury released details Tuesday that all four are removed from the Office of Foreign Assets Control's (OFAC) Specially Designated Nationals and Blocked Persons (SDN) List.

What They Were Accused Of

More than 100 shipments of microelectronics had been sent to a sanctioned Russia-based company, Arteks Limited Company, by RRG Engineering Technologies. Lokesh Machines was charged with delivering dozens of lots of machine tools to Russian companies.

In October 2024, Galaxy Bearings was sanctioned for the export of high-priority dual-use equipment, such as roller bearings and assemblies, to Russian organizations. Shipments of radar apparatus and radio navigational equipment were accused of being sent by Shaurya Aeronautics.

A brief history of the sanctions

The delisting is close on the heels of the first designation of firms nearly two years ago. In 2024, 19 Indian companies and two individuals were sanctioned by OFAC under Executive Order 14024 for alleged support of the Russian government, in the context of Washington's attempts to thwart any circumvention of its restrictions on Russia following the invasion of Ukraine in 2022.

Industry Standing

Among the companies that have been dropped, Galaxy Bearings and Lokesh Machines are publicly listed companies. Lokesh Machines is said to be one of the suppliers of machinery to major manufacturers worldwide such as Japan's Honda and Suzuki and Sweden's Volvo, as well as the US-based John Deere and Cummins. 

Earlier, RRG Engineering Technologies' chairperson Ganga Rao was one of the members of a task force set up by the Ministry of Civil Aviation (MoCA) for the unmanned aerial vehicle (UAV) technology in 2018.

In addition to the delisting, OFAC published its quarterly TSRA licensing report covering January-March 2026.

The U.S. has lifted four Indian firms from its sanctions list after those firms were accused of providing high-end technology and military equipment to support Russia's military-industrial base, PTI reported on Wednesday.

The delisted companies include RRG Engineering Technologies Private Limited (Hyderabad), Lokesh Machines Limited (Hyderabad), Galaxy Bearings Limited (Ahmedabad) and Shaurya Aeronautics Private Limited (New Delhi). 

The US Department of the Treasury released details Tuesday that all four are removed from the Office of Foreign Assets Control's (OFAC) Specially Designated Nationals and Blocked Persons (SDN) List.

More than 100 shipments of microelectronics had been sent to a sanctioned Russia-based company, Arteks Limited Company, by RRG Engineering Technologies. Lokesh Machines was charged with delivering dozens of lots of machine tools to Russian companies.

In October 2024, Galaxy Bearings was sanctioned for the export of high-priority dual-use equipment, such as roller bearings and assemblies, to Russian organizations. Shipments of radar apparatus and radio navigational equipment were accused of being sent by Shaurya Aeronautics.

The delisting is close on the heels of the first designation of firms nearly two years ago. In 2024, 19 Indian companies and two individuals were sanctioned by OFAC under Executive Order 14024 for alleged support of the Russian government, in the context of Washington's attempts to thwart any circumvention of its restrictions on Russia following the invasion of Ukraine in 2022.

Among the companies that have been dropped, Galaxy Bearings and Lokesh Machines are publicly listed companies. Lokesh Machines is said to be one of the suppliers of machinery to major manufacturers worldwide such as Japan's Honda and Suzuki and Sweden's Volvo, as well as the US-based John Deere and Cummins. 

Earlier, RRG Engineering Technologies' chairperson Ganga Rao was one of the members of a task force set up by the Ministry of Civil Aviation (MoCA) for the unmanned aerial vehicle (UAV) technology in 2018.

In addition to the delisting, OFAC published its quarterly TSRA licensing report covering January-March 2026.

US Removes Four Indian Firms From Russia Sanctions List

More than a month after the Delhi Gymkhana Club received a notice from the Centre for quitting its 27.3 acre premises in Safdarjung Road, the case is now pending before the Delhi High Court as a legal and administrative tussle has been created.

Origins of the Dispute

In response to the petitions raised by Delhi Gymkhana Staff Welfare Association and Vijay Khurana, a long-time member of the Gymkhana, the Delhi High Court refused to grant interim protection, after the Delhi Solicitor General Tushar Mehta assured the court that no forcible possession would be made without proper due process.

Justice Avneesh Jhingan wrote that none of the proceedings under the Public Premises Act had been initiated and noted that pleadings would be filed in the matter within eight weeks, before the Joint Registrar on July 28. 

Senior Advocate Abhishek Manu Singhvi, representing the club, contended that the communication was a final order issued without a precedent of a "show cause" notice. Meanwhile, Senior Advocate Jayant Mehta, acting for the staff association, had grumbled that the government-appointed members running the club could do the deed in tandem with the Centre. 

Scale of Impact

The club currently has approximately 14,000 members and is employed by the club by over 500 staff, many of whom rely on the club for their income. It is presently under the supervision of a General Committee, which was appointed by the Ministry of Corporate Affairs after a proceeding before the National Company Law Tribunal.

A Colonial-Era Institution

The Imperial Delhi Gymkhana Club was founded in 1913, on the eve of Independence, it was renamed Delhi Gymkhana Club and eventually membership was extended to Indian Bureaucrats, Diplomats and businessmen. It is still a prominent social institution in the capital city.

The outcome of the case will see whether one of Delhi's old clubs will continue to occupy its historic premises or move elsewhere under the public purpose clause of the government.

More than a month after the Delhi Gymkhana Club received a notice from the Centre for quitting its 27.3 acre premises in Safdarjung Road, the case is now pending before the Delhi High Court as a legal and administrative tussle has been created.

In response to the petitions raised by Delhi Gymkhana Staff Welfare Association and Vijay Khurana, a long-time member of the Gymkhana, the Delhi High Court refused to grant interim protection, after the Delhi Solicitor General Tushar Mehta assured the court that no forcible possession would be made without proper due process.

Justice Avneesh Jhingan wrote that none of the proceedings under the Public Premises Act had been initiated and noted that pleadings would be filed in the matter within eight weeks, before the Joint Registrar on July 28. 

Senior Advocate Abhishek Manu Singhvi, representing the club, contended that the communication was a final order issued without a precedent of a "show cause" notice. Meanwhile, Senior Advocate Jayant Mehta, acting for the staff association, had grumbled that the government-appointed members running the club could do the deed in tandem with the Centre. 

The club currently has approximately 14,000 members and is employed by the club by over 500 staff, many of whom rely on the club for their income. It is presently under the supervision of a General Committee, which was appointed by the Ministry of Corporate Affairs after a proceeding before the National Company Law Tribunal.

The Imperial Delhi Gymkhana Club was founded in 1913, on the eve of Independence, it was renamed Delhi Gymkhana Club and eventually membership was extended to Indian Bureaucrats, Diplomats and businessmen. It is still a prominent social institution in the capital city.

The outcome of the case will see whether one of Delhi's old clubs will continue to occupy its historic premises or move elsewhere under the public purpose clause of the government.

Delhi Gymkhana Club Fights Eviction Order From Centre

Oil marketing companies (OMCs) have lowered the rates of commercial LPG cylinders by ₹183.50 effective July 1, providing relief to commercial users including hotels and restaurants after several months of rising commercial cylinder rates.

In Delhi, the cost of a commercial cylinder is now at ₹2,930, which had been at ₹3,113.50 in June. Prices declined to ₹3,081.50 in Kolkata, where they had increased the most during the West Asia crisis, from ₹3,255.50. The price of Chandigarh saw a cut of ₹181.50, and Patna saw a reduction of ₹173.

The hike in commercial cooking gas prices is the first cut on prices this year after a series of price increases brought on by disruptions in supplies due to the Iran conflict's impact on shipping through the Strait of Hormuz, a key energy route that supplies about 90 per cent of India LPG imports, were placed.

The prices of Domestic 14.2 kg LPG cylinder have been kept unchanged and continued to follow Government's policy of keeping the domestic consumers away from price fluctuations in their surroundings.

The cut is coinciding with the decision made by the Petroleum Ministry last week to bring commercial LPG supplies back to pre-crisis levels.

The ministry insisted that the restriction is removed because of "improved domestic production and the expected arrival of imported LPG cargoes. Commercial supplies were reduced by as much as 50 per cent in some areas during the crisis to meet the needs of the family.

Average international benchmark prices from the previous month are used to calculate the commercial LPG rates for the coming month which are then revised by OMCs. Depending on the LPG and crude oil markets in the rest of the world, more moves will follow.

Oil marketing companies (OMCs) have lowered the rates of commercial LPG cylinders by ₹183.50 effective July 1, providing relief to commercial users including hotels and restaurants after several months of rising commercial cylinder rates.

In Delhi, the cost of a commercial cylinder is now at ₹2,930, which had been at ₹3,113.50 in June. Prices declined to ₹3,081.50 in Kolkata, where they had increased the most during the West Asia crisis, from ₹3,255.50. The price of Chandigarh saw a cut of ₹181.50, and Patna saw a reduction of ₹173.

The hike in commercial cooking gas prices is the first cut on prices this year after a series of price increases brought on by disruptions in supplies due to the Iran conflict's impact on shipping through the Strait of Hormuz, a key energy route that supplies about 90 per cent of India LPG imports, were placed.

The prices of Domestic 14.2 kg LPG cylinder have been kept unchanged and continued to follow Government's policy of keeping the domestic consumers away from price fluctuations in their surroundings.

The cut is coinciding with the decision made by the Petroleum Ministry last week to bring commercial LPG supplies back to pre-crisis levels.

The ministry insisted that the restriction is removed because of "improved domestic production and the expected arrival of imported LPG cargoes. Commercial supplies were reduced by as much as 50 per cent in some areas during the crisis to meet the needs of the family.

Average international benchmark prices from the previous month are used to calculate the commercial LPG rates for the coming month which are then revised by OMCs. Depending on the LPG and crude oil markets in the rest of the world, more moves will follow.

Commercial LPG Prices Cut ₹183.50 From July 1

President Donald Trump made over $1 billion from cryptocurrency business last year, according to his annual financial disclosure Tuesday presented by the U.S. Office of Government Ethics, which several outlets cite as being nearer to $1.4 billion when related token and equity sales are factored in.

Meme Coin Royalties takes the lead from windfall

The biggest single source was $635m in royalties from a firm that has created a crypto token called $TRUMP three days before he began his second term. The token's value hit a high of $74.24 in under a day of its release, dropping to $1.67 by Tuesday evening, Coinbase reports.

World Liberty (WLF) Financial adds in the hundreds of millions

In addition, Trump also disclosed significant income connected to his family's crypto company World Liberty Financial. He earned over $526 million from the sale of cryptocurrency tokens associated with World Liberty Financial LLC, which is run in part by his sons Eric Trump, and Donald Trump Jr. The rest came from equity sales in the firm.

The utilization of traditional businesses has been transferred to the secondary sector

Trump's income from his crypto ventures greatly exceeded his real estate business income, such as $77 million from his Doral golf club, $122 million from his club in Jupiter, and as much as $30 million apiece from his clubs in Bedminster and Turnberry. 

The 927-page filing is far greater than previous disclosures, which Barack Obama filed with his last report eight pages and Joe Biden eleven. 

White House Response

When asked about the conflict of interest, White House spokesman Anna Kelly told CBS News, "There are no conflicts of interest, and Trump only acts in the public interest.

Wider Context

The Trump family's net worth from cryptocurrency businesses in his second term is at least $2.3 billion, according to Reuters. Consumer advocacy group Public Citizen found that crypto firms also donated more money to this year's elections than any other corporate donors, with $189 million given. 

The announcement comes as Trump's administration has been seeking to adopt light-touch crypto policies, such as Trump's strategic bitcoin reserves and the GENIUS Act (Generational Economic Growth and Innovation through Stablecoins) which favours his family's financial interests, according to critics.

President Donald Trump made over $1 billion from cryptocurrency business last year, according to his annual financial disclosure Tuesday presented by the U.S. Office of Government Ethics, which several outlets cite as being nearer to $1.4 billion when related token and equity sales are factored in.

Meme Coin Royalties takes the lead from windfall

The biggest single source was $635m in royalties from a firm that has created a crypto token called $TRUMP three days before he began his second term. The token's value hit a high of $74.24 in under a day of its release, dropping to $1.67 by Tuesday evening, Coinbase reports.

World Liberty (WLF) Financial adds in the hundreds of millions

In addition, Trump also disclosed significant income connected to his family's crypto company World Liberty Financial. He earned over $526 million from the sale of cryptocurrency tokens associated with World Liberty Financial LLC, which is run in part by his sons Eric Trump, and Donald Trump Jr. The rest came from equity sales in the firm.

The utilization of traditional businesses has been transferred to the secondary sector

Trump's income from his crypto ventures greatly exceeded his real estate business income, such as $77 million from his Doral golf club, $122 million from his club in Jupiter, and as much as $30 million apiece from his clubs in Bedminster and Turnberry. 

The 927-page filing is far greater than previous disclosures, which Barack Obama filed with his last report eight pages and Joe Biden eleven. 

When asked about the conflict of interest, White House spokesman Anna Kelly told CBS News, "There are no conflicts of interest, and Trump only acts in the public interest.

The Trump family's net worth from cryptocurrency businesses in his second term is at least $2.3 billion, according to Reuters. Consumer advocacy group Public Citizen found that crypto firms also donated more money to this year's elections than any other corporate donors, with $189 million given. 

The announcement comes as Trump's administration has been seeking to adopt light-touch crypto policies, such as Trump's strategic bitcoin reserves and the GENIUS Act (Generational Economic Growth and Innovation through Stablecoins) which favours his family's financial interests, according to critics.

Trump's Crypto Ventures Yield Over $1 Billion

Expectations of easing Iran-related tensions and some sectoral recovery buoyed the sentiment as major equity indexes on the National Stock Exchange (NSE) added to their gains during Wednesday's session, and the Nifty 50 has for the first time in the new monthly series gone beyond the 24,000 level.

At 1:28 pm IST, the BSE Sensex was up 524.27 points, or 0.69 per cent, at 77,002.94, while the Nifty 50 had gained 156.35 points, or 0.66 per cent, to trade at 24,022.10, according to Business Standard's market tracker. The stocks of Realty, media and FMCG stocks advanced the most, whereas those of IT, metal and pharma stocks lagged.

The market breadth was positive throughout the day with 2297 shares moving up and 1789 stocks falling on the BSE. India VIX, a measure of volatility, declined 1.58 per cent to 13.39, indicating a drop in near-term risk aversion.

The up move was driven by Wall Street's big overnight gain and indications that de-escalation had begun after Iran indicated interest in holding talks through Qatar. Sentiment was propping up with optimism on the near completion of the India-US interim trade pact, positive global cues, and "softer crude oil prices," said Motilal Oswal's Siddhartha Khemka.

Eternal, Asian Paints, Nestlé India and Adani Ports were among the top gainers for the session, whereas Tech Mahindra and HCL Technologies were among the laggards.

Figures are as of the afternoon session – any amounts changes are not independently verified at time of publication – all investor-wealth gains are subject to confirmation.

Expectations of easing Iran-related tensions and some sectoral recovery buoyed the sentiment as major equity indexes on the National Stock Exchange (NSE) added to their gains during Wednesday's session, and the Nifty 50 has for the first time in the new monthly series gone beyond the 24,000 level.

At 1:28 pm IST, the BSE Sensex was up 524.27 points, or 0.69 per cent, at 77,002.94, while the Nifty 50 had gained 156.35 points, or 0.66 per cent, to trade at 24,022.10, according to Business Standard's market tracker. The stocks of Realty, media and FMCG stocks advanced the most, whereas those of IT, metal and pharma stocks lagged.

The market breadth was positive throughout the day with 2297 shares moving up and 1789 stocks falling on the BSE. India VIX, a measure of volatility, declined 1.58 per cent to 13.39, indicating a drop in near-term risk aversion.

The up move was driven by Wall Street's big overnight gain and indications that de-escalation had begun after Iran indicated interest in holding talks through Qatar. Sentiment was propping up with optimism on the near completion of the India-US interim trade pact, positive global cues, and "softer crude oil prices," said Motilal Oswal's Siddhartha Khemka.

Eternal, Asian Paints, Nestlé India and Adani Ports were among the top gainers for the session, whereas Tech Mahindra and HCL Technologies were among the laggards.

Figures are as of the afternoon session – any amounts changes are not independently verified at time of publication – all investor-wealth gains are subject to confirmation.

US Removes Four Indian Firms From Russia Sanctions List

The Companies Involved

What They Were Accused Of

A brief history of the sanctions

Industry Standing

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