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YEREVAN.- Iran’s possible financial operations through Armenia, in order to bypass sanctions imposed by the West, would have influenced Armenia’s financial market, said a representative of the Central Bank of Armenia.

Head of financial monitoring department at the Central Bank of Armenia (CBA) Daniel Azatyan commented for Armenian on the recent publication by Reuters agency.

Azatyan said CBA would present the details in a statement which will be issued in the near future.

In an article “Iran looks to Armenia to skirt sanctions” Reuters cited the report by U.N. panel of experts that monitors compliance with the sanctions against Tehran. The report said Iran is seeking ways to bypass sanctions.

“One state bordering Iran informed the Panel of requests from Iran to open new financial institutions,” the agency cited the report. The article said several diplomats familiar with the report confirmed the state is Armenia.

Among the possible partner banks the author mentions Mellat bank’s Armenian branch and ACBA Credit Agricole. Nevertheless, ACBA executive director Stepan Ghishyan dismissed the reports. As to Mellat, CBA said the bank was disconnected from the international SWIFT system and cannot accept international money transfers.


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