News & Media 7th Jul 2022

Local drug companies in a fix over Sputnik amid sanctions against RDIF

Authors

Suhail Nathani Managing Partner | Mumbai

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Indian drug manufacturers who have signed up with the Russian sovereign fund RDIF to manufacture the Sputnik vaccine are in a bind, due to sanctions imposed by the US, UK and EU.

Against this backdrop, Suhail Nathani, Managing Partner, Economic Laws Practice (ELP) has been quoted by The Economic Times in their article titled ‘Local drug companies in a fix over Sputnik amid sanctions against RDIF’. He says, “From an Indian perspective there is no ban or sanction on any Russian company by our government in force today. However, in view of the sanctions imposed by other countries, there will be difficulty receiving payments from sanctioned entities and sending goods and materials for any purchase or sale contracts done with such entities”.

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