Two firms primarily based in Cyprus had been included on the most recent listing of entities sanctioned by the USA for aiding Russia’s ongoing invasion of Ukraine.
The listing was revealed on Friday by the US State Division and consists of nearly 80 people and entities, whereas the nation’s treasury division designated greater than 150 people and entities as “blocked property”.
One of many two firms is KRU Abroad Restricted, which is described as a “Cyprus-based subsidiary of Kuzbassrazrezugol”.
Kuzbassrazrezugol, in keeping with the state division is a “vertically built-in Russia-based coal entity and is taken into account one of many leaders in Russian coal mining”.
The state division mentioned it had focused Kuzbassrazrezugol and its subsidiaries as a part of its efforts to “designate entities concerned in Russia’s metals and mining business to additional constrain Russia’s income technology capability”.
KRU Abroad Restricted had beforehand equipped coal to the cement works at Vasiliko, with the primary provide contract signed in 2019 and the primary cargo arriving in July 2020.
The second Cyprus-based firm listed was Lagosmarine Restricted, which the US treasury division described as “the technical supervisor of a crude oil tanker that has made a number of port calls in a Russian port the place oil has constantly traded effectively above the $60 (€59) value cap”.
The corporate is a component of what’s usually known as the “shadow fleet” – numerous vessels which, in keeping with the US treasury division, “take part in high-risk transport practices to facilitate illicit or sanctionable exercise”.
US ambassador in Nicosia Julie Davis Fisher mentioned the sanctions are proof that the US and Cyprus “proceed to work collectively to help Ukraine”.
