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Six individuals & companies on new US sanctions list

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Four more individuals and two companies related to Cyprus are included in a new US list of sanctions imposed for enabling Russia’s war on Ukraine.

The US imposed sweeping new measures against Moscow over the war in Ukraine, targeting Russia’s future energy capabilities, sanctions evasion and a suicide drone that has been a menace to Ukrainian troops and equipment, among others, in sanctions on hundreds of people and entities.

The list, which includes 130 individuals and legal entities worldwide, was published by the US Treasury Department on Thursday.

Among the new additions is Cypriot national and UAE resident George Georgiou, who is accused of being “a money launderer who has facilitated money laundering globally for criminal organisations, corrupt businessmen, and Russian oligarchs”.

Georgiou was added to the list “for operating or having operated in the financial services sector of the Russian Federation economy”.

According to the US Treasury: “Georgiou has used various money laundering schemes to move hundreds of millions of dollars for Russian oligarchs and obfuscated the beneficial ownership of the funds.

“These schemes included loans for the purchase of land, a loan-back transaction with “loan forgiveness,” and the use of convertible promissory notes.

Georgiou also “provided services to US-designated John Desmond Hanafin, the founder and CEO of US-designated Huriya Private FZE LLE, a private equity and corporate structuring entity heavily involved in moving Russian finance into the UAE and money laundering.”

According to a statement by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC), “sanctions focus on individuals and entities abetting Russia’s unconscionable war against Ukraine by providing Russia with much-needed technology and equipment from third countries”.

“Additionally, these actions take aim at Russia’s domestic industrial base.”

Unprovoked war

US Secretary of the Treasury Janet L. Yellen said: “With these designations, Treasury is disrupting producers, exporters, and importers of nearly all of the high-priority items identified by the international coalition imposing sanctions and export controls on Russia.

“Russia is dependent on willing third-country individuals and entities to resupply its military and perpetuate its heinous war against Ukraine, and we will not hesitate in holding them accountable”.

She said the global sanctions coalition “has undermined the Kremlin’s ability to wage its unprovoked war”.

“Today’s actions demonstrate our further resolve in continuing to disrupt every link of the Russian military supply chain and target outside actors who would seek to support Russia’s war effort,” she concluded.

“The US Department of State is also issuing nearly 100 sanctions today targeting Russia’s future energy production and revenue, metals and mining sector, defence procurement, and those involved in supporting the Russian government’s war effort and other malign activities”.

Washington has stepped up diplomatic pressure on countries and private companies globally to ensure enforcement of the barrage of sanctions it has unleashed on Moscow over its invasion of Ukraine.

Among those designated on Thursday were Turkish and UAE firms, including companies that sent high-priority goods to Russia and firms that have shipped aviation parts and equipment.

Three Chinese entities – two that the Treasury said have conducted hundreds of shipments of electro-optical equipment, cameras and other items, and one that has shipped radar components to Russia-based firms – were also targeted.

The other Cyprus-linked entities/individuals are:

  • Petrov Artur Aleksandrovich, a Russian national with a residential address in Larnaca
  • Solozhentseva Natalia Vladimirovna, holds a Cypriot passport
  • Tamani-Phella, Aegli, Cypriot national with a residence address in Limassol
  • Astrafteros Technokosmos LTD is registered in Cyprus with an address in Larnaca.
  • Russian Titanium Resources LTD is registered in Cyprus and with an address in Nicosia.