CBA keeping a close eye on state’s handling of US and UK sanctions against Cypriot lawyers

11:38 - 19 April 2023

Current Affairs

The Cyprus Bar Association (CBA) has expressed concern over the government’s handling of the UK and US sanctions against Cypriot lawyers.

The lawyers are named on a US Department of the Treasury’s Office of Foreign Assets Control (OFAC) list of individuals and entities who will be sanctioned for "knowingly assisting Russian oligarchs to hide their assets in complex financial networks"

CBA has said it is keeping a close eye on the government’s handing of the sanctions imposed on the lawyers and their offices, as well as on other service providers, including accountants.

The reservations so far expressed by President Nikos Christodoulides have, according to CBA, been focused on the government’s action to request clarifications from the USA regarding the cases where sanctions were imposed. As reported by InBusinessNews, CBA President Dr. Christos Clerides notes that this could be interpreted as an indirect acceptance of the decision to impose sanctions.

In public statements, Clerides has also emphasised that even if politicians deemed it necessary to ask for clarifications, this could have been more discreetly and without the issue being given such a public dimension.

CBA keeping a close eye on state’s handling of US and UK sanctions against Cypriot lawyers

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