HomeIndian DefenceSanctions scare for Indian firm for business ties with Russia

Sanctions scare for Indian firm for business ties with Russia

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New Delhi: Japan is considering sanctions against an Indian firm for having business ties with Russia, people told ET. If imposed, this would be the first time by Tokyo against New Delhi after the 1998 Pokhran nuclear tests.

Japan is also threatening to sanction firms from China, UAE and Uzbekistan for conducting businesses with Russia by circumventing sanctions, the people said.

ET has learnt that no final decision has been taken yet by Japan to sanction the Indian firm and that the step is currently under consideration. The people did not name the Indian company.

Sanctions are being planned on organisations suspected of involvement in providing materials to Russia that could allegedly be converted for military use, according to Japanese sources. According to people, if Japan goes ahead with sanctioning the Indian firm, it will cast a shadow on the thriving bilateral partnership due to the history of Japanese sanctions against India.

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