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YEREVAN. – The U.S. sanctions against Russia's Rosneft and Gazprombank may affect Armenia, Economy Minister Karen Chshmarityan told reporters on Thursday.

“I think that sanctions will have some affect,” the Minister said, refusing to answer whether this will delay Armenia's accession to the Eurasian Economic Union.

“Areximbank- Gazprombank Group” is a subsidiary of Russia's Gazprombank in Armenia. Its assets currently amount to around $344 million. A few months ago Rosneft stated they would examine opportunities for investing in Armenia's Nairit rubber plant.

The sanctions imposed by U.S. against Russia restrict the possibility of working with companies, altghough do not close it completely: restrictions are imposed on the transaction and financing ogligations for the period of more than 90 days.


 


 

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