Three Cypriot firms in new sanctions list

Three Cypriot firms in new sanctions list

Three Cypriot companies are included in the new list of sanctions imposed by the US. A press release by the US Department of the Treasury says that with over 300 sanctions, the US is targeting Russia’s circumvention and evasion of previous sanctions, military-industrial supply chains, and future energy revenues.

The companies are Aquila Capital Group, Huriya Private Cyprus Ltd (linked to John Desmond Hanafin) and Robarin Ltd (linked to Anselm Oskar Schmucki).

“Today, the US, in coordination with the G7 and other international partners, is strengthening the unprecedented global sanctions and other restrictive economic measures to further degrade the Russian Federation’s capacity to wage war against Ukraine. The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) is implementing new commitments made at the G7 Leaders’ Summit to hold Russia accountable,” the press release says.

Treasury Secretary Janet Yellen said that “from the beginning of President Putin’s illegal and unprovoked war, our global coalition has focused on supporting Ukraine while degrading Russia’s ability to conduct its invasion.” She added that “our collective efforts have cut Russia off from key inputs it needs to equip its military and is drastically limiting the revenue the Kremlin receives to fund its war machine. Today’s actions will further tighten the vise on Putin’s ability to wage his barbaric invasion and will advance our global efforts to cut off Russian attempts to evade sanctions.”

The press release notes that OFAC’s sanctions on 22 individuals and 104 entities target those attempting to circumvent or evade sanctions and other economic measures against Russia, the channels Russia uses to acquire critical technology, its future energy extraction capabilities, and Russia’s financial services sector.

Additionally, OFAC is expanding sanctions authorities to target new sectors of Russia’s economy and sever Russia’s access to new categories of services, the press release says.

The Cyprus government was informed on Thursday about individuals and companies in Cyprus in the new sanctions lists, President Nikos Christodoulides said on Friday, adding that the information will be evaluated by the authorities. Asked by journalists, the president underlined that his message is that he will not cover up for anyone.

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