Shreya Life Sciences Ships AI Chips to Russia

Shreya Life Sciences, a Mumbai-based pharmaceutical company, has been implicated in exporting advanced technology, specifically NVIDIA AI chips, to Russia, raising alarms among Western nations regarding India's role as a potential intermediary in circumventing sanctions. Between April and August 2024, Shreya exported over 1,100 Dell PowerEdge XE9680 servers containing NVIDIA's H100 chips, which are restricted under U.S. and EU sanctions aimed at limiting military capabilities in Russia. The servers originated from Malaysia, reflecting a broader trend of technology transshipment through intermediary countries, as Malaysian Prime Minister Anwar Ibrahim recently emphasized trade relations with Russia. The shipments, valued at approximately $300 million, are part of a series of transactions dating back to September 2022, highlighting the ongoing challenge for Western efforts to restrict access to dual-use technology for military applications. India's government, led by Prime Minister Modi, has maintained its trade relations with Russia, unaffected by U.S. and EU sanctions, further complicating the geopolitical landscape. As of now, Shreya Life Sciences has not publicly commented on these allegations, and questions remain about the company's financial ties and operations within this context.