In a significant move highlighting the United States’ resolve to counteract activities perceived as detrimental to global security, the US Treasury Department has imposed sanctions on two Indian nationals and three companies based in India. The individuals and companies were named under Section 11 of Executive Order 14024, which addresses harmful foreign activities of the Russian Federation. This action, announced earlier this month, reflects Washington’s ongoing efforts to isolate Russia economically and technologically amid the Russia-Ukraine conflict.
The Sanctioned Indian Entities
The Indian individuals sanctioned are Surya Visesh Dutta and Sharda Subramaniam. Dutta, whose address is listed in Purvi Marg, New Delhi, is associated with ASVS Defence Private Limited, a company operating out of Bhikaji Cama Place in New Delhi. His co-promoter, according to Indian records, is Siddharth Singh.
Sharda Subramaniam, on the other hand, holds directorial positions in several companies, including Igep Consult Private Limited, Rugmark Foundation, Indo-Asia Bulgarian Chamber of Commerce, Designa India Private Limited, and Igep Foundation. Her offices are situated in Janakpuri, Delhi, and in D Block, Phase-1, Sushant Lok, Gurgaon.
The Indian Companies Sanctioned
The sanctioned Indian companies include Innoedge Cloudserve Private Limited, Mavasal Impex Private Limited, and Polar Star Logistics. Innoedge Cloudserve, based in Sushant Lok Phase 1, Gurugram, is directed by Jitender and Naveen. Mavasal Impex, based in Sector 33, Gurugram, is directed by Subramonyan Srikanth and Debabrata Mukherjee. Polar Star Logistics, a logistics firm with global offices, is headquartered at Cardinal Gracious Road, Chakala, Andheri East, Mumbai.
Connections to Walter Moretti
The sanctions on these Indian nationals are rooted in their alleged links with Walter Moretti, a Swiss-Italian businessman who has been under US sanctions since February 2023. Moretti’s network has been implicated in secretly acquiring sensitive Western technologies and equipment for Russian intelligence services and the military. These acquisitions included hydraulic presses, armament packages, and armor plating, which were reportedly meant for Russia’s nuclear weapons laboratories.
Broader Network Involving Indian and International Entities
Moretti’s network of associates and companies is extensive and spans several countries. Notably, Markus Gerhard Mueller, a German national, and Swiss nationals Ronald Eric Cosman and Bruno Koller were also sanctioned. Companies involved include Swisstec 3D AKUS AG, based in Switzerland, Taerio International LTD in Bulgaria, and Interpolytrade Limited Company in Russia.
Moretti’s operations also leveraged UAE-based companies Taerio Limited and Tamyna FZE, along with Malta-based Stratton Investment Group Ltd. Swiss-Italian national Frederic Pierre Villa, a board member of Stratton Investment Group LTD, was sanctioned, as were Swiss nationals Hans-Peter Bomatter and Lutwin Schommer, officials at Tamyna AG, for their financial support of Moretti’s enterprises.
Impact of Sanctions on Indian Nationals and Companies
The sanctions imposed by the Office of Foreign Assets Control (OFAC) involve blocking assets and trade restrictions. Assets of the sanctioned individuals and entities within US jurisdiction are frozen, and US persons are prohibited from engaging in transactions with them. These measures are intended to cut off financial and logistical support to entities aiding Russian military activities, thereby hampering Russia’s operational capabilities.
Strategic Implications for Indian and Global Entities
This round of sanctions is part of a broader US strategy to counteract Russia’s military aggression in Ukraine by targeting its economic and technological support systems. By sanctioning entities and individuals in other countries, such as India, the US aims to dismantle the networks facilitating Russia’s military operations. These sanctions send a clear message about the global reach and implications of the US sanctions policy, emphasizing the importance of international cooperation in upholding global security norms.
The sanctions on Indian nationals and companies highlight the interconnected nature of global supply chains and the far-reaching impact of US foreign policy measures. As the US continues to tighten its grip on entities supporting Russia, the repercussions will be felt worldwide, urging countries and businesses to reassess their affiliations and compliance with international norms. This development serves as a reminder of the complex geopolitical landscape and the pivotal role of economic sanctions in shaping global security dynamics.
