Sanctions were slapped on two Indian firms over their alleged ties to a Russian state-owned diamond major, revealed a report that underscored the first instance of the country’s businesses coming under American penalties imposed after the Ukraine invasion.
India has asked the US to release $26m worth of assets of two of the unnamed diamond companies over their alleged trade with Russian diamond company Alrosa that was sanctioned by the US Treasury’s Office of Foreign Assets Control (OFAC), Indian government sources familiar with the matter told Reuters.
