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Cyprus to set up national sanctions implementation unit
The Cypriot government on April 19 announced that it will set up a national sanctions implementation unit, according to a Cyprus Mail report.
President Nikos Christodoulides will work with the U.K.-based sanctions unit to establish this new department.
According to the Cypriot government spokesperson Konstantinos Letymbiotis, President Christodoulides also asked for a course of action in regard to recent US and UK sanctions.
The statement came in response to a new round of sanctions issued by the U.S. and U.K. on April 12 that included 23 Cypriot citizens and 20 Cypriot companies.
The sanctioned individuals and companies were determined to have “knowingly assisted,” Russian oligarchs Roman Abramovich and Alisher Usmanov.
Cypriot authorities will coordinate with the U.S. and the U.K. regarding sanctions in the future, according to President Letymbiotis.