Indian production of Covid-19 Sputnik V vaccine in fix after sanctions on Russian Jab maker

The sanctions imposed by the United States on the Russian Direct Investment Fund (RDIF), which markets Sputnik V internationally, have raised concerns about the manufacture of the Covid-19 vaccine in India, the second largest producer of the vaccine after the Russia. In addition, the blocking of some Russian banks’ access to the SWIFT international payment system as part of new sanctions for the invasion of Ukraine has also added to concern.

Manufacturing and exports of Covid-19 vaccines have been compromised in India, CNBC-TV18 quoted industry sources familiar with the developments as saying. It was also said that there were stocks waiting to be cleared but due to a lack of demand there would be no production.

There is no communication from anyone regarding Sputnik V, the sources added.

Sputnik V has been licensed in 71 countries with a total population of over 4 billion people. RDIF is the Russian sovereign wealth fund created in 2011 to make co-investments in equities, mainly in Russia, alongside reputable international financial and strategic investors.

RDIF has partnered with several pharmaceutical companies to manufacture Russian vaccines in India, including Serum Institute of India, Gland Pharma, Hetero Biopharma, Panacea Biotec, Stelis Biopharma, Virchow Biotech and Morepen.

The fund said in a statement that it was not engaged in any political activity and that the sanctions imposed could make it more difficult to promote Sputnik V.

China, a close ally of Russia, said Monday it opposes illegal unilateral sanctions and will continue to conduct normal business cooperation with Moscow as the US, EU and allies step up. punitive measures against Russia, including interbank messaging. SWIFT system.

Read all the latest Assembly news, breaking news and live updates here.