Four Cyprus-based companies on new US sanctions list

11:46 - 06 December 2023

Current Affairs Reporter

Four legal entities registered in Cyprus and with the same address in Larnaca, have been included on the new US sanctions list against Russia.

These are companies owned by the Belgian businessman and long-time procurement agent for Russia, Hans De Geetere, who is a director of various companies in Belgium, Cyprus, and the Netherlands.

In some cases, De Geetere and his network attempted to ship electronics to Russia via transshipment points in Hong Kong, China and Turkey.

In particular, De Geetere is credited with coordinating the procurement of electronics for Russian customers, including field-programmable gate arrays (FPGAs)—high-priority semiconductor devices sought by Russia for its weapons programs.

De Geetere manages the companies Knokke Heist Support Corporation Management (Knokke Heist) based in Belgium, Eriner Limited (Eriner) based in Cyprus, The Mother Ark Ltd (The Mother Ark) based in Cyprus and European Trading Technology BV (European Trading Technology) based in the Netherlands.

These two companies are on the new US sanctions list, as is Cyprus-based Lar Vorto Services Limited (Lar Vorto), which is on the board of multiple De Geetere-led firms. Lar Vorto is responsible for the position of Secretary at Eriner and The Mother Ark, as well as a third firm, Ahetei Limited (Ahetei), which was led by De Geetere at the time of its establishment.

Ahetei Limited (Ahetei), also registered in Cyprus and headed by De Geetere at its inception, is also on the new sanctions list.

(Source: InBusinessNews)

Four Cyprus-based companies on new US sanctions list

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