Overview
- The Treasury’s Office of Foreign Assets Control removed four Indian companies from the Specially Designated Nationals list, a change that took effect on June 30, 2026 and lifts US‑jurisdiction asset freezes and transaction bans for those firms.
- The companies delisted are RRG Engineering Technologies, Lokesh Machines, Galaxy Bearings and Shaurya Aeronautics, all of which had been sanctioned in 2024 under Executive Order 14024 for alleged support to Russia’s military‑industrial base.
- OFAC did not publish a reason for the removals, and the larger group of Indian entities designated in 2024 remains on the SDN list with no public review timetable.
- The delistings produced immediate commercial impact: Lokesh Machines filed that blocked property was unblocked and shares in Galaxy Bearings and Lokesh Machines rose after the announcement.
- The action was part of a wider OFAC update that also added Mexico‑linked drug‑trafficking targets and released a quarterly TSRA licensing report, following prior diplomatic engagement by India with US authorities over the 2024 designations.