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Armenian company baffled after getting included in United States BIS Entity List

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Two Armenian companies - Markel Closed Joint Stock Company (Markel CJSC) and Yerevan Telecommunications Research Institute (YETRI) Closed Joint Stock Company (CJSC)  have been added to the United States Department of Commerce Bureau of Industry and Security’s Entity List “because YETRI CJSC has obtained CCL items that were reexported without the required BIS licenses, and the person who is both Executive Director of YETRI CJSC and President of Markel CJSC has been engaged in a business relationship with a sanctioned Iranian organization”.

However, YETRI CJSC director Mher Markosyan told ARMENPRESS they are trying to clarify why they’ve appeared in the list because they haven’t done any business with Iran since 2009. He said he plans to invite American embassy staffers and present documents in order to understand why it happened, “perhaps it is a mistake”.

In turn, the Ministry of Economy of Armenia said they are clarifying the report.

“We will issue an additional clarification in case of having other information,” spokesperson for the Ministry of Economy Anna Ohanyan told


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