Crocus brand to be removed from name of Agalarov’s companies in Azerbaijan

13:16 - 2.12.2022


December 2, Fineko/abc.Az. Crocus brand is removed from the name of Azerbaijani companies of the family of Azerbaijani millionaire Araz Agalarov, who lives in Russia.

ABC.AZ reports that in the last month, Crocus Construction LLC and Crocus Event Baku LLC were renamed.

Note that both companies are subsidiaries of Crocus, which is located in Russia.

Thus, Crocus Construction LLC was renamed for Construction LLC, and Crocus Event Baku LLC became Agalarov Event LLC.

Araz Agalarov was included in the sanctions list of the US Treasury in 2018 along with 96 Russian businessmen, but this year he has not faced any sanctions.

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