YEREVAN — The United States has added an Armenian trading company to its long list of entities accused of helping Russia evade U.S. sanctions imposed since the Russian invasion of Ukraine.

The U.S. Department of Commerce blacklisted the company, Medisar, along with 69 Russian entities on May 19. It accused them of supporting Russia’s military and defense industry.

Founded in 2001, Medisar is based in Yerevan. It owns a large warehouse located there.

Speaking to RFE/RL’s Armenian Service, a company executive, who did not want to be identified, acknowledged that Medisar has imported chemicals and laboratory equipment from the United States and the European Union and re-exported them to Russia. He insisted that company has not violated any Armenian laws and that the Armenian authorities have been aware of its operations.

Company representatives said they do not know yet the likely impact of the U.S. sanctions on Medisar’s continued activities. It was not clear whether they will stop doing business with Russia.

Medisar, which paid over $1 million in taxes last year, is the second Armenian-registered entity blacklisted by the United States. The other firm, TAKO, was sanctioned by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) in April.

TAKO was registered in May last year about three months after the outbreak of the war in Ukraine. According to the Armenian state registry, it is fully owned by a Russian national and specializes in wholesale trade in electronic and telecommunications equipment and parts.

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Sign Up for Our Newsletters

Get notified of the latest updates from MassisPost.

You May Also Like

Asset Forfeiture Law Signed by President Sarkissian

YEREVAN — President Armen Sarkissian’s office reported the signing of the “Forfeiture…

57 Casualties Reported in Armed Forces of Armenia and Karabakh in 2015

YEREVAN (Mediamax) — 57 deaths of military servicemen in Armenian Armed Forces…

Three Political Parties Issue Announcement on April War Anniversary

GLENDALE—The leading bodies of the three traditional political parties—the Social Democratic Hunchakian…

Over $25,000 Raised to Benefit AGBU Camp Nairi

LOS ANGELES –On June 18, the AGBU LA Special Events Committee held…