Three Cypriot-based entities in new US sanctions
Three Cypriot-based entities in new US sanctions
6/12/2023 11:22

US Department of Treasury’s Office of Foreign Assets Control (OFAC) announced new sanctions against individuals assisting the Russian defence 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 which allegedly coordinated procurement of electronics for military applications for Russian end-users, through a network of companies in Belgium, Cyprus and the Neterlands.

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