The United States has urged Armenia to refrain from doing business with Russian companies and businessmen that are subject to U.S. sanctions related to Russia’s alleged involvement in the Ukraine crisis, reported RFE/RL’s Armenian service (Azatutyun.am).
“We encourage all countries and their nationals to consider the reputational risk of doing business with sanctioned individuals and entities and cease business dealings inconsistent with the sanctions that we and others have imposed,” the U.S. Embassy in Yerevan said on Thursday.
“The U.S. Embassy in Armenia, like other U.S. embassies around the globe, distributed information about these latest sanctions to Government of Armenia representatives as well as to local business organizations,” it added in a statement to RFE/RL.
The embassy did not note what the consequences of ignoring the sanctions would be.
The U.S. sanctions apply to Russian companies in the defense and energy fields, as well as commercial banks, including Gazmprombank and VTB, both of which have branches in Armenia (Areximbank and VTB Armenia).
Meanwhile, in the energy sector, Russia’s largest oil company, Rosneft, has engaged in negotiations with authorities in Armenia over the purchase of a moribund chemical plant in Yerevan, as well as a $400-million investment to revive the Nairit plant, according to RFE/RL.
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As a member of Eastern Union we have an obligation to protect our interest and no one allowed to dictate something that is vital to our survival in such economy locked country . If USA needs to dictate Armenia how to resolve his issues than he should negotiate with Azeris about Artsakh and Turkey to recognise and fulfil his duties.