Following the recent unfortunate events, new sanctions and restrictive measures have been imposed against a number of Russian financial institutions, entities and individuals. This is a fast-changing and irregular situation, and the regulations imposing restrictive measures are continuously revised and updated. Regulators in Cyprus have issued announcements and circulars to Regulated Entities in relation to their obligations to abide by the applicable restrictive measures and implement and maintain a sanctions policy.
Our experienced team can provide clear and concise advice on the applicability of the sanctions and restrictive measures and on whether and how such updated measures affect your operations in Cyprus, provide guidance on related matters that could be important for your business and assist in the development and implementation of a sanctions policy for your firm.