US slaps sanctions on the Armenia-based Russian company
The United States Treasury Department announced on Monday that the US has imposed new anti-Russia sanctions on 14 individuals and 28 entities, including four family members of Russian politician Suleiman Kerimov and companies registered in Switzerland, Malta, and France, among others, News.az reports.
Armenian-based company Milur Electronics LLC is one of them.
The Armenia-based affiliate of Milandr, Milur Electronics LLC (Milur Electronics), was initiated for the purpose of placing orders from foreign factories, producing integrated microchips, and conducting overseas sales.
Milur Electronics has been used as a Milandr front company as a means to conduct Milandr’s business with foreign partners. In fact, Milandr employees have sought to access Milur Electronics’ network themselves to conduct business.
Milur SA is the Switzerland-based primary shareholder of Milur Electronics and has been utilized by employees and business associates of Milandr to coordinate financial transfers to Milur Electronics.
Finally, OFAC designated Sharp Edge Engineering Inc. (Sharp Edge), a Taiwan-based front company used to purchase microelectronic components from Asian companies. Milandr employees have utilized a Sharp Edge account to procure equipment.
“The United States will continue to expose and disrupt the Kremlin’s military supply chains and deny Russia the equipment and technology it needs to wage its illegal war against Ukraine,” said Secretary of the Treasury Janet L. Yellen.