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Russia's Gefest blacklisted by US had no deals in North Korea — CEO

Restrictions were introduced against the general director of Gefest Ruben Kirakosyan

MOSCOW, August 22. /TASS/. Russia’s Gefest company included by the US OFAC into the sanction list because of contacts with North Korea did not make deals there and had no contacts with the government of North Korea for five years at the least, general director of the company Ruben Kirakosyan told TASS on Tuesday.

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US extends sanctions against North Korea

"There was no deal with North Korea but there was a contact. They made a formal offer to deliver a rolling mill to us. We met here and in their embassy. However, no contacts followed, at least for 5-6 years," he said.

The parties also considered an opportunity of supplying wine and cigarettes made in Armenia to North Korea but no deal was finalized, Kirakosyan added.

On Tuesday, the US Office of Foreign Assets Control (OFAC) extended its sanction lists on North Korea and included the Moscow-based Gefest company and four Russian individuals into it.

Restrictions were introduced against general director of Gefest Ruben Kirakosyan. The company deals with sales of special alloys and steel grades. Sanctions were also imposed on Andrei Serbin, Mikhail Pisklin and Irina Huish.

The reason for introduction of sanctions was cooperation with companies from North Korea, the OFAC said in its statement.

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