New US sanctions target Cyprus over Russia connections

Four individuals and two legal entities related to Cyprus are included in a new US list of sanctions imposed due to Russia's offensive against Ukraine.

The list, which includes 130 individuals and legal entities around the world, was published on Thursday by the US Treasury Department.

According to a press release issued on Thursday by the US Department of the Treasury's Office of Foreign Assets Control (OFAC), ''today’s sanctions focus on individuals and entities abetting Russia’s unconscionable war against Ukraine by providing Russia with much-needed technology and equipment from third countries''.

''Additionally, these actions take aim at Russia’s domestic industrial base'', the press release pointed out, adding that ''with these designations, Treasury is disrupting producers, exporters, and importers of nearly all of the high-priority items identified by the international coalition imposing sanctions and export controls on Russia''.

“Russia is dependent on willing third-country individuals and entities to resupply its military and perpetuate its heinous war against Ukraine and we will not hesitate in holding them accountable,” said Secretary of the Treasury Janet L. Yellen, indicating that the global sanctions coalition ''has undermined the Kremlin’s ability to wage its unprovoked war''. ''Today’s actions demonstrate our further resolve in continuing to disrupt every link of Russian military supply chain, and target outside actors who would seek to support Russia’s war effort,” she concluded.

The press release further added that ''the US Department of State is also issuing nearly 100 sanctions today targeting Russia’s future energy production and revenue, metals and mining sector, defense procurement, and those involved in supporting the Russian government’s war effort and other malign activities''.