Japan sanctions Indian company for 'Helping Russia evade’ trade curbs
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New Delhi: In a sudden move, Japan on Friday imposed sanctions on a company based out of India alongside 11 entities in a few other countries “for helping Russia evade punitive measures related to its invasion of Ukraine” The Wire reported citing Japan Today.
Sanctions including “asset freezes and export bans” are also imposed on companies being hosted by China, the United Arab Emirates, Uzbekistan and Kazakhstan.
Si2 Microsystems, which calls itself a system-in-package and microsystems solutions provider based out of Bengaluru, is among the companies in the list to face sanctions.
The company was previously sanctioned by the European Union in February this year as part of its 13th package of sanctions against Russia.
Alongside, the US too had imposed sanctions on the company in November last year.
Si2 Microsystems has partnered with the Ministry of Electronics and Information Technology related to Atmanirbhar Bharat (Make in India) collaboration, the report said citing The Hindu.
Although the company is new to face Russia-linked sanctions, it had been previously banned by the US from “dual-use” technology transfers.
Alongside, Indian authorities issued a lookout notice for its directors over debt defaults.
It is also reported citing the newspaper that the government will decide whether to protest against the sanctions after examining them.
“India has done nothing illegal. It is their [the EU’s] interpretation that ties with Russia are a problem. As far as the government is concerned the sanctioned company is an industry partner and MeitY’s research partner,” an official was quoted as saying.