No evidence of Indian companies circumventing Russian sanctions: US official

US Deputy Secretary of the Treasury Wally Adeyemo

MUMBAI: The US Deputy Secretary of Treasury Wally Adeyemo on Wednesday stated there may be “no proof” of Indian firms circumventing the sanctions imposed following Russia’s invasion of Ukraine.
“I’ve seen no proof of Indian firms circumventing sanctions which were positioned on Russia,” Adeyemo instructed reporters throughout a go to to IIT-Bombay right here.
He added that firms world wide, together with these in India, the US and Europe, are taking the sanctions critically and implementing them as effectively.
The remarks come days after reviews quoted RBI Deputy Governor Michael Patra saying that the US is worried over India getting used to export gas made out of Russian crude in violation of sanctions imposed by Washington.
In accordance with Patra, transfers of Russian crude are going down on the excessive seas and the ships come to a port in Gujarat, the place the oil is refined and shipped on.
Adeyemo additionally stated that the coalition of the sanctions is broadening, with many nations becoming a member of.
The Treasury Division official is on a multi-day go to to India, which is able to embody conferences within the monetary capital and New Delhi.