The UK will support Cyprus in creating a new national department to implement sanctions to combat illegal Russian finances passing through Europe. This is reported by the press service of the British government, reports UNN.
Details
On December 10, British Prime Minister Cyrus Starmer agreed on a partnership with Cypriot President Nikos Christodoulides. This further strengthens relations between the two countries in the field of intelligence and security, the government stressed.
The unit will share experience and intelligence between the financial and trade sanctions enforcement agencies, as well as the Cyprus Ministry of finance, to disrupt and intercept the flow of illegal finance across Europe to ensure the effectiveness of sanctions against Russian dictator Vladimir Putin's War Machine.
This new unit will have new analytical tools and powers to investigate sanctions evasion and track funds that move around Europe
The unit was created at a time when the UK is also deepening cooperation with Cyprus in the fight against serious organized crime. We will work together to fight illegal financing by sharing knowledge about registering beneficial asset owners.
Together with the Republic of Cyprus, we are stopping the flow of illegal finances through Europe to deprive Putin's war machine of funding and protect global stability."
According to the British government, Cyprus froze Russian assets worth 1.5 billion pounds after Putin's barbaric full-scale invasion of Ukraine, supporting collective efforts to suppress Zosia's War Machine.
Recall
The United Kingdom and the United States have imposed sanctions against the illegal trade in Russian gold that finances Russia's war. The assets of those involved were frozen and a global smuggling network through Zimbabwe was exposed.