U.S. Commerce Department Includes Two Armenian Companies on Its 'Blacklist'

The U.S. Department of Commerce has included a number of companies from over ten countries on its blacklist, including those from Armenia. Two Armenian companies are now on the sanctions list: 'Markel' LLC and the Scientific Research Institute of Communications in Yerevan (YCI).

According to a document published on the U.S. Federal Register website, 'YCI has received products from the Bureau of Industry and Security's 'Commerce Control List' and re-exported them without the necessary licenses. The individual who serves as the executive director of YCI and the president of 'Markel' LLC is engaged in business with an Iranian organization that is under U.S. sanctions.'

Also included in the U.S. Commerce Department's sanctions list are the Kaluga Research Institute of Radiotechnics in Russia and 14 other companies from Georgia, Belgium, the United Kingdom, Canada, China, Hong Kong, Malaysia, the Netherlands, and the UAE. U.S. authorities believe that the activities of these companies contradict national security and foreign policy interests.

The restrictions will take effect on August 14.