News

Cypriot officials have signaled a new willingness to observe and enforce Western sanctions against Russia this month after Britain and the U.S. slapped financial embargos on 13 local professionals and companies suspected of serving blacklisted parties. Following the unprecedented designations of local "financial fixers" with longstanding ties to blacklisted Russian oligarchs on April 12, Cypriot President Nikos Christodoulides has met daily with officials, regulators and industry representatives in a frantic bid to shield Cyprus' comparatively large banking and professional services sector from additional fallout. "I believe there will be new entries [designations] either from the U.S., U.K. or EU side,"...