Cyprus has frozen the assets of those who allegedly helped Russian oligarchs circumvent sanctions. These individuals were named by the United States and Great Britain.
AFP writes about it.
The Financial Commissioner of Cyprus, Pavlos Ioannou, announced the blocking of the accounts of individuals and legal entities involved in the circumvention of sanctions against Russia.
The United States and Great Britain imposed sanctions on 13 Cypriot citizens and some companies for allegedly helping Russian oligarchs hide their wealth.
Meanwhile, the islandʼs largest creditor, the Bank, notified four thousand clients with Russian citizenship and non-EU residency that they had closed their accounts.
- On April 12 , the United States introduced new sanctions against Russia to further limit the Kremlinʼs access to the international financial system through intermediaries and their businesses.
- The European Commission plans to discuss the eleventh package of sanctions against the Russian Federation, which will deal with the fight against sanctions evasion and the elimination of loopholes.