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