The latest sanctions by the United States targeting entities and individuals supporting Russia’s military activities include a Cyprus-based company. According to a statement from the U.S. Embassy in Nicosia posted on the platform ‘X’, this move aims to block Russia’s access to essential resources. The embassy highlighted that the new sanctions are part of a broader global strategy against Russia’s war operations.
In a press release dated October 30, 2024, the U.S. Department of the Treasury announced sanctions on 275 individuals and organizations involved in providing Russia with critical technology and equipment needed to maintain its military efforts. The action affects actors and sanction-evasion networks in 17 jurisdictions, including India, China, Switzerland, Thailand, and Türkiye. The goal, as the statement explained, is to disrupt these global networks and also restrict Russian companies producing key materials for the country’s military-industrial base.
One of the sanctioned entities, Cyprus-based Mostrello Commercial Ltd, owns Russian-flagged vessels linked to CJSC Perspective Technologies Agency (UPT) in Russia. UPT, along with British Virgin Islands-based Nikesto Investments Ltd and Belize-based Berezia Management Ltd, has reportedly facilitated maritime missions for Russia by utilizing these vessels.
The Treasury noted that UPT, alongside entities like Strelchenko, Transport Freight, Mostrello, Nikesto, and Berezia, has been designated under Executive Order 14024 due to operations in the marine sector of the Russian economy.
Source: www.stockwatch.com.cy