The U.S. Treasury has fined Cobham for cooperation with «Almaz-Antey»

© RIA Novosti / Artem to Getinitiated in fotobounce OJSC Concern PVO Almaz-Antey. Archival photoThe U.S. Treasury has fined Cobham for cooperation with «Almaz-Antey»© RIA Novosti / Artem to Getinitiated the image Bank

The U.S. Treasury has fined the company Cobham to 87.5 thousand dollars for violations of the anti-sanctions, in particular, for the cooperation of its former subsidiary with Aeroflex/Metelics with the daughter of a Russian «Almaz-Antey», reads the document on the Agency’s website.

«Cobham Holdings, Inc. («Cobham»), a company based in Arlington (VA), on behalf of its former affiliate, Aeroflex/Metelics, Inc.(«Metelics»), agreed to pay 87.5 thousand dollars within settle potential civil liability for three violations related to the observance of the law on sanctions in connection with Ukraine», — the document says.

In the framework of an internal investigation Cobham found out that the daughter of «Almaz–Antey» — «Almaz-Antey telecommunications» (ATT) — three purchased radar equipment. At the time of the transaction ATT was not included in the sanctions list, but it was 51% owned by «Diamond-anteyu», which automatically adds the company to the sanctions list.

At the conclusion of an internal investigation Cobham announced its results for the U.S. Treasury. The parties agreed on payment of fine in the amount of 87.5 thousand dollars. The total volume of transactions with the daughter of «Almaz–Antey», according to the document, amounted to 1.12 million dollars.

Relations between Russia and the West deteriorated in connection with the situation in Ukraine and around the Crimea. The West is accusing Russia of meddling has imposed sanctions against it. In July 2014, the European Union and the United States from the point of sanctions against certain individuals and companies have moved to measures against entire sectors of the economy. Russia has repeatedly stated that it is not a party to the conflict in Ukraine and the subject of the Minsk agreements.

The U.S. Treasury has fined Cobham for cooperation with «Almaz-Antey»© Infografiken sanctions against Russia and retaliatory measures

Source