Like China-Iran, the United States threatened to impose sanctions on India – Bangladesh Diplomat

After Iran and China, the United States is worried about Russia's trade relations with India. From that worry, the United States has warned about imposing sanctions on India.

Since the beginning of the Russia-Ukraine conflict in 2022, Western countries including the United States have imposed sanctions on Russia. As part of that effort, they have also put constant pressure on New Delhi. However, India has ignored the pressure and has been signing one deal after another with Moscow.

India did not want to lose friendship with Russia. Therefore, ignoring the eye-rolling of the United States, India's bilateral trade with Russia will increase to five lakh 45 thousand 466 crore rupees in 2023. India is trying to take this figure to about 84 lakh crores by 2030.

So this time, the United States is determined to strike a direct commercial blow. The United States is aware of the consequences of supplying Russia with parts or technology or equipment that can be used to build missiles or defensive weapons.

Indian companies that attempt to do such business with Russia have warned that sanctions will be imposed on both companies.

In November last year, the US imposed sanctions on a Bengaluru-based private firm for allegedly supplying technology that could be used in various fields.

Electrical components, parts, drones and software for drones are some of the dual-use items, which can be used in both civilian and military applications.

The US has repeatedly made Indian companies aware of the importance of not exporting certain types of goods, such as chemicals, aircraft parts and materials that can be used in missiles.

A section of diplomatic circles believes that the United States is giving a veiled warning to India about its 'military cooperation' with Russia by 'messaging' its defense pact with Russia.

India-Russia has signed an agreement to continue trading directly through rupees and rubles as sanctions against Russia prevent the use of dollars or other international currencies.

The two countries are trading directly in rupees without the need to convert to other currencies with the help of a special type of bank account. This bank account is called Vostro.

Russian banks have tied up with several Indian public and private banks for direct transactions. According to a source in a commercial organization, India has given Russia the opportunity to sell products like oil or defense equipment to India and invest that money in India.

In December last year, the United States decided to impose sanctions on foreign financial institutions doing business with Russia. Besides, efforts are being made to find out all the foreign banks that are connected with the Russian military industry.

According to a Reuters report, Washington sent a letter to the Indian Bank Association in India based on that source. The letter from the US assistant treasury secretary said that foreign financial institutions that engage in Russian military-industrial businesses could lose US financial aid.

India has not agreed to the financial sanctions imposed by Western countries including the United States against Russia. The Russian foreign minister also discussed oil sales during his visit to India amid the war.

Russia has to listen to the criticism of the world's powerful countries, including the United States, Britain, and Japan, based on the Ukraine war. However, the South Block has not yet clarified its position on this war.

Indian Prime Minister Narendra Modi is going to visit Ukraine on August 23. However, India will not mediate with Russia to end the war, the country's government has made clear ahead of Modi's visit to Ukraine.

Some State Department officials believe that the US is trying to block that path of 'balanced diplomacy' by warning that going down the path of defense-related trade with Russia will not be good.
Source: Anandabazar newspaper