On October 30, The Bar-based International Business Corporation, owned by Russian citizen Sergey Kokorev, was placed on the sanctions list by the US Treasury Department (US Treasury) for what it said was military support for Russia.
According to a document from the Office of Foreign Assets Control (OFAC), Kokorev and his company transboundary processing centers and ball bearings of European origin to customers in Russia, including AMS Technika, a company involved in the wholesale of industrial machinery and equipment.
This is the first Montenegrin company to be sanctioned for exporting dual-purpose goods to Russia.
In 2022, after several delays, the Montenegrin government joined European Union sanctions against Russia for invading Ukraine. The sanctions include freezing the assets of Russian citizens and companies.
Radio Free Europe has sent a question to the government on how the implementation of sanctions in Montenegro is being monitored.
The U.S. imposed the sanctions on the same day the European Commission’s report on Montenegro was published, saying Podgorica was in full compliance with sanctions against Russia.
What do you know about Kokori’s business?
Kokorev has owned the company since May 27, 2021.
The company was registered in 2011 and has changed owners and directors several times and is registered as a non-specialized wholesaler based in Tivar, approximately 50 kilometers from Podgorica.
In 2021, this company registered a turnover of about 24 thousand euros. In 2022, their turnover increased to 298 thousand euros, while last year they closed with 934 thousand euros in revenues.
According to the data of the Sinomix commercial base with details of international trade, analyzed by RSE, the International Economic Company has exported goods worth 42 thousand euros in four shipments to AMS Technics from Russia.
The exported items were spare parts for Series C processing centers, including hydropneumatic accumulators, ball bearings and air filters.
The goods exported include those with a tariff title on the ‘priority’ list of high-risk products subject to us and EU sanctions against Russia.
The sanctioned goods, worth about 19,000 euros, were re-exported through China.
According to the U.S. Treasury Department’s OFAC website, Sergey Kokorev is of Russian nationality.
Another Kokorrev company with a foreign arms trade license
The company of Kokorev Interlex, based in Bar, was established in 2015.
According to their website, the main activity of the company is the export-import business in world markets and the company is registered and licensed to conduct foreign trade of weapons and military equipment.
“The company has experience in multi-purpose metalworking equipment, instruments and analytical equipment for a wide range of applications, tools and 3D projection equipment. Also in the field of hydropower potential, such as minicentrals including hydropower plants, natural gas…” “
It is added that the company is competent to develop production lines for various purposes with the participation of European engineering companies.
RSE reportedly did not export to Russia through this company.
The sanctions were imposed on October 30 on about 400 individuals and companies from different countries, including one company from Serbia.
Over the past two years, the U.S. and the Treasury have placed more than 4,000 entities and individuals on the sanctions list for ties to Russia.
