It has been reported today that the Company Registrar in Cyprus, alongside the Cyprus Bar Association, are investigating an instance of possible Russian sanctions breaches.
The investigation relates to allegations that two days after additions to the OFAC SDN list a Cypriot company newly-filed documents purporting to show corporate rearrangements dating back several years which is accurate and reliable would remove the company from the impact of the US listing.
It is unclear whether the investigation relates to any breaches of the EU’s sanctions.