12° Nicosia,
18 July, 2024

US sanctions target Russian-Cypriot connections

Penalties expand to include individuals and entities tied to Cyprus amid escalated pressure on Moscow


A Cypriot connection has emerged among the latest targets of US sanctions against Russia, with the US Treasury Department announcing penalties on Wednesday affecting individuals and entities linked to Cyprus. Among those newly sanctioned are Bulat Akhatovich Yanborisov, who holds both Russian and Cypriot citizenship, and two Cyprus-based companies, Picotin Holdings Ltd and Sentimare Enterprises Ltd.

The US escalated sanctions against Russia on Wednesday, targeting over 300 individuals and entities in a bid to curb Moscow's military activities in Ukraine. According to the US Treasury Department, Yanborisov heads the Silk Way Rally Association, allegedly used by Russia's GRU intelligence agency as a cover for espionage. He and his son, Amir Bulatovich Yanborisov, purportedly leverage Silk Way’s infrastructure to procure military equipment like anti-UAV and radio warfare gear for Ukraine's conflict.

Additionally, Picotin Holdings Ltd and Sentimare Enterprises Ltd are linked to Vladimir Olegovich Potanin, a prominent Russian oligarch under US sanctions since December 2022. The US State Department asserts that Potanin maintains control over these entities through four Liechtenstein-based foundations and Sentimare Me Ltd, a UAE-based entity.

These sanctions underscore US efforts to disrupt Russian military capabilities and target individuals facilitating Moscow's geopolitical strategies, amid ongoing tensions over Ukraine.

[With informtion from CNA]

Cyprus  |  USA  |  sanctions

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