Officials from the UK and the US will soon visit to provide additional information on the sanctions, President Nikos Christodoulides said on Friday as authorities received the second tranche of US data connected to the sanctions it imposed on Cypriot entities.

Two issues are arising from the US sanctions, Christodoulides said.

The first concerns the payment of employees in sanctioned companies, and the second is about the registrar of companies.

“We have discussed both issues with the Legal Service – in fact we have a legal opinion – I have also discussed them with the Governor of the Central Bank and early next week we will have developments,” he said. The government’s priority, he added, is the issue concerning all those who are employed in these companies, so that their salary data is not affected.

Similarly with the first batch, the second dossier details the much-requested information about how accused individuals and companies were deemed to be financial fixers and helped Russian oligarchs evade sanctions.

Head of the president’s press team Victoras Papadopoulos told CNA there was less material than last time and it was more technical.

A third tranche is also expected in the near future, while a second wave of sanctions appears to be a likely scenario, stakeholders have warned.

Employees working at two sanctioned firms have decried the move by banks to follow US sanction orders and freeze all bank accounts affiliated with sanctioned entities. As a consequence however, this has left employees without pay.

The governor of Cyprus’ central bank said acting otherwise would have been catastrophic to Cyprus’ economy. For matters of employers getting paid, companies should make a request to US authorities, the governor told MPs.

Last month, both the US and UK sanctioned 23 Cypriots – 10 of which are Cyprus born – and 20 companies based in Cyprus. They are accused of knowingly assisting Russian oligarchs Roman Abramovich and Alisher Usmanov hide their assets in complex financial networks.