Shreya Life Sciences, which has a history of exporting pharmaceuticals, has recently expanded its operations to include high-tech exports, shipping $434 million worth of goods to Russia since early 2022.

Ukrainian officials have voiced strong concerns over these trades, urging the international community to prevent companies from profiting from technology sales that could aid Russia's military efforts.

U.S. officials have expressed frustration with India's role in these technology trades, warning Indian business leaders about potential repercussions for supporting Russia's military sector.

Despite international sanctions, India continues to facilitate trade with Russia, with companies like Shreya Life Sciences exporting high-tech goods legally.

The shipments from Shreya were directed to Russian firms Main Chain Ltd. and I.S. LLC, both of which are not subject to U.S. sanctions, highlighting a loophole in Western efforts to restrict Russia's access to dual-use technology.

Shreya Life Sciences has significant financial ties to Promsvyazbank, a state-owned lender sanctioned for its connections to Russia's defense sector, raising concerns about the company's reliability as a tech exporter.

Trade data indicates that India has been re-exporting technology originally imported from Malaysia, further complicating the narrative around compliance with sanctions.

These exports include advanced servers equipped with Nvidia's H100 chips and Intel's 4th Generation Xeon CPUs, which are regulated due to their potential military applications.

The servers shipped to Russia contain dual-use technology, specifically Nvidia's H100 chips, which are commonly utilized in AI applications and have military implications.

While major tech companies like Dell have ceased direct sales to Russia, the compliance of their products in the hands of Indian exporters remains a contentious issue.

Concerns have been raised by Ukrainian officials about the ethics of profiting from the ongoing conflict, with calls for accountability regarding the technology trade with Russia.

In the midst of these tensions, Ukraine is engaging with India, hoping for mediation in peace talks with Russia due to India's neutral stance and established relations with Moscow.