Galaxy Bearings Removed from US SDN List

Galaxy Bearings Limited has been removed from the United States Department of the Treasury's Office of Foreign Assets Control (OFAC) Specially Designated Nationals and Blocked Persons (SDN) List, effective June 30, 2026. This follows earlier disclosures and concludes proceedings related to the company's designation. The removal permits Galaxy Bearings to engage in transactions with U.S. persons and through the U.S. financial system, subject to applicable laws. This is expected to normalize the company's international business operations, including dealings with U.S. counterparties.