Armenia provides Iran with funds allocated by EU, EBRD 18.5 million euros sent to Iranian company

The European Union (EU) and the European Bank for Reconstruction and Development (EBRD) have allocated 18.5 million euros for a project to modernize and expand the Meghri border crossing between Armenia and Iran.

According to Trend's information received from open sources, the project of modernization and expansion of the Meghri border checkpoint was entrusted by Armenia to an Iranian company.

Thus, the Iranian company Tana Energy Management was declared the winner of the tender held by the Armenian government. The State Revenue Committee of Armenia and the mentioned Iranian company have already signed an agreement. Construction work is scheduled to be completed in 2026. That is, the funds allocated by the EU and the EBRD are directly transferred to the Iranian company.

So, funds in the amount of 18.5 million euros for the project, which is the fruit of the “Armenian-Iranian brotherhood”, are transferred to the Iranian company, against which the West has imposed sanctions. The EU is funding the project, which will be carried out by an Iranian company.

It is clear that financial resources have been allocated to the Armenian side. At the same time, issues related to how and by whom the funds will be spent are agreed with the parties financing the project.

Providing the EU with these funds against the backdrop of "fraternal relations between Armenia and Iran" thereby also helps Iran to circumvent sanctions. The EU should study on what grounds the decision was made to transfer these funds to an Iranian company. Otherwise, it turns out that the EU has no idea about the sanctions against Iran, or they ignore these sanctions because of Armenia.

Between January and November 2022, the trade turnover between Armenia and Iran increased by 44 per cent to $638.4 million, compared to just $363.2 million between January and September 2022, according to the Armenian government.

In other words, Armenia has the highest indicator of economic cooperation and trade in the region with Iran. And now Armenia is also cooperating with Iran at the expense of Western money. It seems that the EU either does not know about this or ignores this issue.