Armenia-based company sanctioned by US over Russia

YEREVAN, SEPTEMBER 30, ARMENPRESS. An Armenian company came under U.S. sanctions todayannounced by the Treasury Department.

The Armenian company - Taco LLC– has been designated for supporting Radioavtomatika, a Russian company, according to the Treasury Department.

“OFAC today also designated two third-country entities supporting Radioavtomatika.Sinno Electronics Co., Limited (Sinno), a People’s Republic of China supplier of Radioavtomatika, andTaco LLC(Taco), an Armenian supplier. Sinno, with awareness of restrictions on exports to Russia, has maintained a continuing relationship with Radioavtomaika before and after Russia’s further invasion of Ukraine. In June, Sinno was placed on Commerce’s Entity List for providing support to Russia’s military and/or defense industrial base and for continuing to contract to supply Russian entity listed and sanctioned parties after Russia’s further invasion of Ukraine. Radioavtomatika pays Taco for importing components and handling the procurement process within Armenia. Furthermore, both Sinno and Taco have interacted with each other in relation to their work with Radioavtomatika. Both Sinno and Taco were designated pursuant to E.O. 14024 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of Radioavtomatika,” the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) said.