U.S. blacklists two Armenian entities for business ties with Iranian firm

U.S. blacklists two Armenian entities for business ties with Iranian firm

PanARMENIAN.Net - The United States Department of Commerce has blacklisted two Armenian entities, according to a notice posted on Tuesday, August 13 on the website of the U.S. Federal Register, including for "engaging in a business relationship with a sanctioned Iranian organization".

The two Armenian entities were among 17 entities that the bureau added to the Entity List, with the restrictions set to go into force on Wednesday.

The Entity List identifies entities for which there is reasonable cause to believe, based on specific and articulable facts, have been involved, are involved, or pose a significant risk of being or becoming involved in activities contrary to the national security or foreign policy interests of the United States.

In particular, the Department of Commerce decided to impose restrictions against Markel Closed Joint Stock Company (Markel CJSC) and Yerevan Telecommunications Research Institute (YETRI) Closed Joint Stock Company (CJSC).

YETRI CJSC, the decision said, has obtained CCL (Commerce Control List) items that were reexported without the required licenses, and the person who is both Executive Director of YETRI CJSC and President of Markel CJSC has been engaged in a business relationship with a sanctioned Iranian organization.

In January, the United States had targeted with sanctions an Armenian general sales agent providing services to an already sanctioned Iranian carrier, Mahan Air, the Department of Treasury said back then. Armenia-based Flight Travel LLC was sanctioned "for acting for or on behalf of Mahan Air."

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