Cyprus promises “zero tolerance” for violations of sanctions against Russia but will not aid Ukraine with weapons

Cypriot President Nikos Christodoulides, during a speech on Tuesday on the occasion of the first 100 days of his administration, promised strict compliance with the sanctions regime against Russia in response to the war it initiated in Ukraine. Source: European Pravda, with reference to AP In his speech, Christodoulides stressed that his administration is committed to protecting Cyprus's name as a "reliable business and financial centre" after the United States and the United Kingdom added several Cypriot nationals and companies to the list of those helping Russian oligarchs evade sanctions.

"The international trust in our nation holds significant importance, enabling us to attract high-quality investments that generate revenue for our country, create new employment opportunities, and much more", he said.

The president of Cyprus has confirmed a policy of "zero tolerance" for any Cypriot citizen or company that helps evade international sanctions imposed on Russia due to the invasion of Ukraine. He reiterated his previous thesis that Cyprus "is on the right side of history", fully supporting international sanctions against Russia, as it itself suffered similar consequences like Ukraine did - after the Turkish invasion in 1974. At the same time, the Cypriot president ruled out any steps regarding the transfer of military equipment to Ukraine - in particular, Soviet-era T-80 battle tanks, armoured personnel carriers, and anti-aircraft missile systems.

Considering the Turkish threat, he affirmed that "no actions will be taken that could leave the Republic of Cyprus defenseless, without armed forces." 

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Christodoulides, who succeeded Nicos Anastasiades as Cypriot president in February, almost immediately spoke about the need to tackle violations of sanctions if Cyprus is to maintain its credibility as a business hub.

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