SOURCE: API
In a recent development, Ukraine has blacklisted 26 entities, including an Indian organization, for their alleged involvement in supporting Russian aggression. This move comes as Ukraine continues to face the consequences of Russia’s ongoing conflict in the region.
NBC Bearings, a subsidiary of the C.K Birla Group, has been included in the list compiled by Ukraine’s National Agency on Corruption Prevention (NACP). The Ukrainian National Agency on Corruption Prevention (NACP) said that Indian Company has supplied support or resources to Russia, thus exacerbating the situation in the region. By including the Indian entity on the blacklist, Ukraine aims to send a strong message against such activities.
NBC Bearings claimed that they supply beatings to over 30 countries and for different segments like automotive, railways, industrial segments and other non-military applications and bearings valued at roughly $12.3 million were exported during the year 2022-23 by NBC Bearings to Russia.
According to a report by Forbes, the scarcity of ball bearings caused temporary production halts at Russia’s major tank manufacturing and restoration factories, Uralvagonzavod and Omsktransmash, in the initial weeks following the invasion of Ukraine.