U.S. slaps sanctions on three Russian companies

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INVOLVED IN THIS ARTICLE:

Chengdu Best New Materials

Chengdu Best New Materials

Zibo Elim Trade Company

Zibo Elim Trade Company

Elecon

Elecon

Aviazapchast

Aviazapchast

Russian companies Aviazapchast, Elecon and Nilco Group are subjected to US sanctions due to the alleged violation of US non-proliferation legislation in respect of Iran, North Korea and Syria. The US Department of State posted a relevant notice in the Federal Register.

The decision on restrictive measures came into force on November 6, according to the document. Sanctions also apply to Chinese companies Chengdu Best New Materials Co Ltd. and Zibo Elim Trade Company, Ltd. Restrictions cover “any successor, sub-unit, or subsidiary” of mentioned companies.

Sanctions will be effective for two years but their term can be reduced or terminated by a decision of the US secretary of state. Restrictive measures ban US government departments or agencies from making procurement contracts with these companies, providing them with assistance, selling them defense items and granting them licenses for items subjected to export control.

Source » tass

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