Alerts & Updates 5th Nov 2024
Recently, the U.S. sanctioned nearly four hundred (400) entities and individuals in seventeen (17) jurisdictions including nineteen (19) entities and two (2) individuals from India for supporting Russia’s military-industrial complex. The U.S. also added forty (40) entities including five (5) Indian entities to the Export Administration Regulations (EAR) Entity List. Notably, sanctions on Indian entities and individuals have seen a noticeable rise recently, emphasizing that India is not exempt from global sanction measures.
While Indian businesses may be compliant with Indian laws in dealing with Russian entities / individuals, it is important for such businesses involved in global value chain to remain vigilant of the regulatory developments in multiple jurisdictions to mitigate any sanctions implications on their businesses.
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