Latest news with #Promsintez
Time of India
2 days ago
- Business
- Time of India
Sanctions risk: Indian firm defends explosive shipment to Russia; says material for civilian use only
This is an AI-generated image, used for representational purposes only. An Indian company that exported $1.4 million worth of an explosive compound to Russia last December said it complied with Indian rules and that the shipment was strictly for civilian industrial purposes, not military use. According to news agency Reuters, Ideal Detonators Private Limited confirmed that the material exported, HMX, also known as octogen, was not of military grade. 'The shipment ... is for industrial activity and it's a civil explosive,' the Telangana-based firm said in an email response. HMX is known for its powerful military applications, including use in missile and torpedo warheads and other advanced weapon systems. The US government has called the compound 'critical for Russia's war effort' and has warned that any sale of such materials to Moscow could trigger sanctions under its treasury department's guidelines. Reuters first reported that Ideal Detonators shipped HMX to two Russian buyers in last December, Promsintez and High Technology Initiation Systems (HTIS), according to Indian customs data. One of them, Promsintez, has ties to Russia's military, a Ukrainian security official claimed, and its factory was targeted by a Ukrainian drone attack in April. The US state department said it had communicated with India about the risks involved in doing military-related business with Russia. "We have repeatedly made clear to all our partners, including India, that any foreign company or financial institution that does business with Russia's military industrial base are at risk of US sanctions," a spokesperson was quoted as saying by Reuters. India's foreign ministry, however, responded that all dual-use exports are regulated under a robust legal framework. 'India has been carrying out exports of dual-use items taking into account its international obligations on non-proliferation,' the ministry said. According to Reuters, HMX is also used in limited civilian areas such as mining and industrial blasting. HTIS, one of the recipients, claims to manufacture explosives for mining and engineering projects. HTIS is listed as a subsidiary of Madrid-based Maxam, which is controlled by US private equity firm Rhone Capital. Maxam is reportedly in the process of divesting its Russian subsidiaries. While India has deepened ties with Washington in recent years, its historic defense and trade relationship with Moscow remains intact. Indian oil purchases and other trade with Russia have remained strong, even amid global sanctions over the Ukraine war. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Arab News
2 days ago
- Business
- Arab News
Indian firm says it shipped non-military explosives to Russia
NEW DELHI: An Indian firm that shipped $1.4 million worth of an explosive compound with military uses to Russia in December said on Saturday it complies with Indian rules and the substance it had shipped was for civilian industrial purposes. Reuters reported on July 24 that Ideal Detonators Private Limited shipped the compound, known as HMX or octogen, to two Russian explosives manufacturers despite US threats to impose sanctions on any entity supporting Russia's Ukraine war effort. One of the Russian companies listed in Indian customs data as receiving the compound is the explosives manufacturer Promsintez. An official at Ukraine's SBU security service has said the Russian company has ties to the military and that Ukraine launched a drone attack in April against a Promsintez-owned factory. Promsintez did not respond to a request for comment. Ideal Detonators said in an emailed response to Reuters that the material it shipped was not military grade. 'The shipment ... is for industrial activity and it's a civil explosive,' the company said. The US government has identified HMX as 'critical for Russia's war effort' and has warned financial institutions against facilitating any sales of the substance to Moscow. The US Treasury Department has the authority to sanction those who sell HMX and similar substances to Russia, sanctions lawyers have said. HMX is widely used in missile and torpedo warheads, rocket motors, exploding projectiles and plastic-bonded explosives for advanced military systems, according to the Pentagon's Defense Technical Information Center and related defense research programs. The compound also has some limited civilian applications in mining and other industrial activities.
The Star
2 days ago
- Business
- The Star
Indian firm says it shipped non-military explosives to Russia
NEW DELHI (Reuters) -An Indian firm that shipped $1.4 million worth of an explosive compound with military uses to Russia in December said on Saturday it complies with Indian rules and the substance it had shipped was for civilian industrial purposes. Reuters reported on July 24 that Ideal Detonators Private Limited shipped the compound, known as HMX or octogen, to two Russian explosives manufacturers despite U.S. threats to impose sanctions on any entity supporting Russia's Ukraine war effort. One of the Russian companies listed in Indian customs data as receiving the compound is the explosives manufacturer Promsintez. An official at Ukraine's SBU security service has said the Russian company has ties to the military and that Ukraine launched a drone attack in April against a Promsintez-owned factory. Promsintez did not respond to a request for comment. Ideal Detonators said in an emailed response to Reuters that the material it shipped was not military grade. "The shipment ... is for industrial activity and it's a civil explosive," the company said. The U.S. government has identified HMX as "critical for Russia's war effort" and has warned financial institutions against facilitating any sales of the substance to Moscow. The U.S. Treasury Department has the authority to sanction those who sell HMX and similar substances to Russia, sanctions lawyers have said. HMX is widely used in missile and torpedo warheads, rocket motors, exploding projectiles and plastic-bonded explosives for advanced military systems, according to the Pentagon's Defense Technical Information Center and related defense research programs. The compound also has some limited civilian applications in mining and other industrial activities. (Reporting by Shivam Patel in New Delhi; Editing by Sharon Singleton)
Straits Times
2 days ago
- Business
- Straits Times
Indian firm says it shipped non-military explosives to Russia
NEW DELHI - An Indian firm that shipped $1.4 million worth of an explosive compound with military uses to Russia in December said on Saturday it complies with Indian rules and the substance it had shipped was for civilian industrial purposes. Reuters reported on July 24 that Ideal Detonators Private Limited shipped the compound, known as HMX or octogen, to two Russian explosives manufacturers despite U.S. threats to impose sanctions on any entity supporting Russia's Ukraine war effort. One of the Russian companies listed in Indian customs data as receiving the compound is the explosives manufacturer Promsintez. An official at Ukraine's SBU security service has said the Russian company has ties to the military and that Ukraine launched a drone attack in April against a Promsintez-owned factory. Promsintez did not respond to a request for comment. Ideal Detonators said in an emailed response to Reuters that the material it shipped was not military grade. "The shipment ... is for industrial activity and it's a civil explosive," the company said. The U.S. government has identified HMX as "critical for Russia's war effort" and has warned financial institutions against facilitating any sales of the substance to Moscow. The U.S. Treasury Department has the authority to sanction those who sell HMX and similar substances to Russia, sanctions lawyers have said. Top stories Swipe. Select. Stay informed. Singapore Woman taken to hospital after car falls into sinkhole on Tanjong Katong Road Singapore Students hide vapes in underwear, toilet roll holders: S'pore schools grapple with vaping scourge Singapore 'I've tried everything': Mum helpless as son's Kpod addiction spirals out of control Singapore NDP 2025: How Benjamin Kheng is whisked from Marina Bay to Padang in 10 minutes by boat, buggy Singapore Almost half of planned 30,000 HDB flats in Tengah to be completed by end-2025: Chee Hong Tat Singapore From libraries to living rooms: How reading habits take root in underserved S'pore children Asia Thai-Cambodia clashes spread along frontier as death toll rises Asia Thousands rally in downtown Kuala Lumpur for resignation of PM Anwar HMX is widely used in missile and torpedo warheads, rocket motors, exploding projectiles and plastic-bonded explosives for advanced military systems, according to the Pentagon's Defense Technical Information Center and related defense research programs. The compound also has some limited civilian applications in mining and other industrial activities. REUTERS
Hindustan Times
2 days ago
- Business
- Hindustan Times
Indian firm says it shipped non-military explosives to Russia
NEW DELHI, - An Indian firm that shipped $1.4 million worth of an explosive compound with military uses to Russia in December said on Saturday it complies with Indian rules and the substance it had shipped was for civilian industrial purposes. Indian firm says it shipped non-military explosives to Russia Reuters reported on July 24 that Ideal Detonators Private Limited shipped the compound, known as HMX or octogen, to two Russian explosives manufacturers despite U.S. threats to impose sanctions on any entity supporting Russia's Ukraine war effort. One of the Russian companies listed in Indian customs data as receiving the compound is the explosives manufacturer Promsintez. An official at Ukraine's SBU security service has said the Russian company has ties to the military and that Ukraine launched a drone attack in April against a Promsintez-owned factory. Promsintez did not respond to a request for comment. Ideal Detonators said in an emailed response to Reuters that the material it shipped was not military grade. "The shipment ... is for industrial activity and it's a civil explosive," the company said. The U.S. government has identified HMX as "critical for Russia's war effort" and has warned financial institutions against facilitating any sales of the substance to Moscow. The U.S. Treasury Department has the authority to sanction those who sell HMX and similar substances to Russia, sanctions lawyers have said. HMX is widely used in missile and torpedo warheads, rocket motors, exploding projectiles and plastic-bonded explosives for advanced military systems, according to the Pentagon's Defense Technical Information Center and related defense research programs. The compound also has some limited civilian applications in mining and other industrial activities. This article was generated from an automated news agency feed without modifications to text.
