The United States has removed four Indian companies from its sanctions list after previously accusing them of supplying advanced technology and equipment that supported Russia's military-industrial base. The decision came through the US Department of the Treasury, according to a PTI report.

The four companies removed from the Office of Foreign Assets Control's (OFAC) Specially Designated Nationals and Blocked Persons (SDN) List are Hyderabad-based RRG Engineering Technologies Private Limited and Lokesh Machines Limited, Ahmedabad-based Galaxy Bearings, and New Delhi-based Shaurya Aeronautics Private Limited.

The US had imposed sanctions on these companies in 2024. It alleged that they supplied dual-use goods and technology to Russia. Dual-use items can serve both civilian and military purposes. The sanctions placed restrictions on the companies' dealings with the United States.

According to PTI, the US sanctioned Galaxy Bearings Ltd in October 2024. It alleged that the company exported dozens of high-priority dual-use items to Russian entities. These shipments reportedly included roller bearings and roller assemblies. The US claimed that these products could support Russia's industrial and defence sectors.

The US had also accused Shaurya Aeronautics Private Limited of sending several types of electronic equipment to Russia. These included radar apparatus, radio navigational aid apparatus, radio remote control apparatus, and other electrical equipment. The allegations formed part of the broader sanctions imposed by the US government last year.

RRG Engineering Technologies Private Limited also faced sanctions in 2024. According to PTI, the US alleged that the Hyderabad-based company sent more than 100 shipments of microelectronics to Arteks Limited Company. Arteks is a Russia-based entity that already appears on the SDN list. The US viewed these shipments as support for Russia's industrial capabilities.

Lokesh Machines Limited was another company included in the sanctions list last year. The US alleged that the company exported dozens of shipments of machine tools to various Russian manufacturing companies. These exports drew the attention of US authorities during their review of trade linked to Russia.

Following the latest announcement, the shares of Lokesh Machines Limited rose by 5 per cent. The stock traded at Rs 285.70 per share on Wednesday. The market reacted positively after the company was removed from the sanctions list.

The US Department of the Treasury announced the removal of all four companies from the sanctions list on Tuesday. The decision marked a significant development for the affected firms, which had remained under sanctions since 2024.

The Treasury Department did not provide any reason for removing the companies from the sanctions list. Officials have not explained what led to the decision. No further details were immediately available at the time of the announcement.

The removal of the four Indian firms from the OFAC Specially Designated Nationals and Blocked Persons List ends the sanctions that the United States had imposed over allegations of supplying dual-use technology and equipment to Russia. However, the US has not released any official explanation for the move.