Sanctions Relief Removes Obstacle to US-Armenia Aluminum Trade

• 01.17.2019, 14:22
•  America,  World,  Armenia

The U.S. Senate’s rejection today of a bid to block the easing of sanctions on Russian aluminum company Rusal PLC will have the practical effect of reducing pressure on an Armenian aluminum mill, reported the Armenian National Committee of America (ANCA).

The mill, owned by Armenal, employs 700 in Yerevan, indirectly supports thousands of area families, and exports products to U.S. and other international markets.

"While we did not take a position on the broader policy debate over the lifting of specific sanctions, we do welcome the net effect of today’s vote, which is to ease pressure on a successful, export-driven Armenian enterprise that employs over 700, supports many times that number of Armenian families, and exports products to U.S. markets," said ANCA Executive Director Aram Suren Hamparian. "The ANCA remains committed to working constructively with legislators from both parties to address undue, improper, or unintended consequences of U.S. regional sanctions on Armenia and the U.S.-Armenia trade relationship."

Armenal, based in the Arabkir district of Armenia’s capital, Yerevan, supplies aluminum foil to packaged food, beverage, cigarette, and other export markets primarily in the U.S. and Europe. U.S. firms purchasing products from Armenal include Colorado-based Trinidad Benham Corp and Illinois-based Handi-Foil of America and Durable Packaging International.