Sanctioned by the United States in May 2002 for engaging in proliferation activities with Iran, along with all successors, sub-units and subsidiaries, and the Armenian national Armen Sargsian, (Sarkisyan), who was reportedly the company's owner from 1997-2000, but then sold it to an Iranian businessman, Varuzhan Andreasyan, and a Yerevan businessman, Ashot Oganyan; reportedly denied the State Department's charge that it sold dual-use technologies or equipment to Iran, and said that Armen Sargsian was never the owner or director of the firm.