12° Nicosia,
24 February, 2024

US imposes sanctions on three Cyprus based entities

The US Treasury targets Cypriot-registered companies linked to a Belgian businessman accused of aiding Russian military electronics procurement

Source: CNA

The US Department of Treasury’s Office of Foreign Assets Control (OFAC) announced new sanctions against individuals assisting the Russian defense industry, involving Cyprus-based entities.

The new sanctions included three Cypriot-registered entities.

According to the US Treasury, these entities are associated with a Belgian businessman who allegedly coordinated the procurement of electronics for military applications for Russian end-users, through a network of companies in Belgium, Cyprus and the Netherlands.

More to come...

Cyprus  |  USA  |  sanctions

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