Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Advertising and Sponsorship
    • Profile & Readership
    • Contact Us
    • Latest News
    • Privacy & Cookies Policies
    • Terms of Use
    • Advertising Terms
    • Issue 81
    • Issue 80
    • Issue 79
    • Issue 78
    • Issue 77
    • Issue 76
    • Issue 75
    • Issue 74
    • Issue 73
    • Issue 72
    • Issue 71
    • Issue 70
    • View All
    • About the Awards
    • Awards Timetable
    • Awards Winners
    • Submit Nominations
    • Testimonials
    • Media Room
    • FAQ
    • Asset Management Awards
    • Brand of the Year Awards
    • Business Awards
    • Cash Management Banking Awards
    • Banking Technology Awards
    • CEO Awards
    • Customer Service Awards
    • CSR Awards
    • Deal of the Year Awards
    • Corporate Governance Awards
    • Corporate Banking Awards
    • Digital Transformation Awards
    • Fintech Awards
    • Education & Training Awards
    • ESG & Sustainability Awards
    • ESG Awards
    • Forex Banking Awards
    • Innovation Awards
    • Insurance & Takaful Awards
    • Investment Banking Awards
    • Investor Relations Awards
    • Leadership Awards
    • Islamic Banking Awards
    • Real Estate Awards
    • Project Finance Awards
    • Process & Product Awards
    • Telecommunication Awards
    • HR & Recruitment Awards
    • Trade Finance Awards
    • The Next 100 Global Awards
    • Wealth Management Awards
    • Travel Awards
    • Years of Excellence Awards
    • Publishing Principles
    • Ownership & Funding
    • Corrections Policy
    • Editorial Code of Ethics
    • Diversity & Inclusion Policy
    • Fact Checking Policy
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    A global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure.

    Copyright © 2010-2026 - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    1. Home
    2. >Headlines
    3. >Indian firm says it shipped non-military explosives to Russia
    Headlines

    Indian Firm Says It Shipped Non-Military Explosives to Russia

    Published by Global Banking & Finance Review®

    Posted on July 26, 2025

    2 min read

    Last updated: January 22, 2026

    Add as preferred source on Google
    Emergency response at Times Square following a shooting that left three individuals injured. This incident highlights ongoing gun violence issues in the US.
    Police response to shooting incident in Times Square, New York - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Tags:compliancefinancial institutionsInternational traderisk managementinvestment

    Quick Summary

    An Indian firm shipped HMX to Russia for civilian use, despite U.S. sanctions warnings. The compound has both military and civilian applications.

    Indian Company Ships Explosive Compound to Russia Amid Controversy

    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)

    Key Takeaways

    • •Indian firm Ideal Detonators shipped HMX to Russia.
    • •The shipment was for civilian industrial purposes.
    • •U.S. warns against facilitating HMX sales to Russia.
    • •HMX has both military and civilian applications.
    • •Ukraine claims Russian recipient has military ties.

    Frequently Asked Questions about Indian firm says it shipped non-military explosives to Russia

    1What explosive compound did the Indian firm ship to Russia?

    The Indian firm shipped a compound known as HMX or octogen to Russia.

    2What does Ideal Detonators claim about the nature of the shipment?

    Ideal Detonators stated that the material shipped was not military grade and was intended for industrial activity as a civil explosive.

    3What concerns does the U.S. government have regarding HMX?

    The U.S. government has identified HMX as critical for Russia's war effort and has warned financial institutions against facilitating sales to Moscow.

    4Which Russian company received the HMX shipment?

    The Russian company listed as receiving the compound is Promsintez, according to Indian customs data.

    5What potential actions can the U.S. Treasury Department take?

    The U.S. Treasury Department has the authority to sanction those who sell HMX and similar substances to Russia.

    More from Headlines

    Explore more articles in the Headlines category

    Image for Ukrainian drones kill two in Russian border region of Belgorod, governor says
    Ukrainian Drones Kill Two in Russian Border Region of Belgorod, Governor Says
    Image for Iran wants Lebanon included in any ceasefire, sources say
    Iran Wants Lebanon Included in Any Ceasefire, Sources Say
    Image for Vance due to visit Hungary on April 7-8 ahead of key election, say sources
    Vance Due to Visit Hungary on April 7-8 Ahead of Key Election, Say Sources
    Image for Belgian police break up migrant smuggling network, four people arrested
    Belgian Police Break up Migrant Smuggling Network, Four People Arrested
    Image for Russia sought to blackmail US using intelligence to Iran, Zelenskiy says
    Russia Sought to Blackmail US Using Intelligence to Iran, Zelenskiy Says
    Image for Italy's tourism minister resigns, ending standoff with PM Meloni
    Italy's Tourism Minister Resigns, Ending Standoff With PM Meloni
    Image for In Lebanon, paramedics mourn their own killed in Israeli strike
    In Lebanon, Paramedics Mourn Their Own Killed in Israeli Strike
    Image for Italy tourism minister resigns, obeying PM Meloni
    Italy Tourism Minister Resigns, Obeying PM Meloni
    Image for Swiss prosecutors not involved with Paris probe at bank Edmond de Rothschild
    Swiss Prosecutors Not Involved With Paris Probe at Bank Edmond De Rothschild
    Image for Lost remains of French musketeer d'Artagnan may have been found in Dutch church
    Lost Remains of French Musketeer d'Artagnan May Have Been Found in Dutch Church
    Image for Doctors in England plan six-day strike after government pay offer rejected
    Doctors in England Plan Six-Day Strike After Government Pay Offer Rejected
    Image for Soccer-Man sentenced for racist abuse of England defender Carter
    Soccer-Man Sentenced for Racist Abuse of England Defender Carter
    View All Headlines Posts
    Previous Headlines PostThai Man Mourns Wife and Children Killed in Shelling Near Cambodia Border
    Next Headlines PostFifty-Four Children Swim From Morocco to Spanish Enclave Ceuta