A Cyprus-registered company has been included in the latest US sanctions, aimed at entities and individuals allegedly supporting Russia’s ongoing military activities.
On October 30, the US Treasury released an updated sanctions list that includes Mostrello Commercial Ltd., a company operating from Cyprus. Mostrello was cited specifically under measures targeting Russia’s maritime supply chain, as the US Treasury claims that the company owns “Russian-flagged vessels utilized by Russia-based UPT to carry out maritime operations.”
Russia-based UPT reportedly provides cable-laying services and related logistical support for the Russian government, including tasks for the Ministry of Defence.
The sanctions also apply to Nikesto Investments Ltd., based in the British Virgin Islands, and Berezia Management Ltd., headquartered in Belize, due to similar activities.
This round of US sanctions addresses 275 individuals and entities allegedly involved in supplying Russia with critical technology and equipment to maintain its military capabilities. The US Treasury’s statement highlighted, “This action targets individual actors and broad networks of sanctions evasion in 17 regions, including India, the People’s Republic of China (PRC), Switzerland, Thailand, and Turkey. Beyond addressing international evasion networks, the action also focuses on domestic Russian importers and manufacturers supplying essential materials for Russia’s military sector.”
Source: Cyprus Mail