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New sanctions by US against Belgian business interest in Cyprus

us sanctions
Janet Louise Yellen, United States secretary of the treasury [CNA]

The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury has issued new sanctions orders concerning three Cyprus-based entities on Wednesday.

The new sanctions include three companies registered in Cyprus, reported by the state broadcaster CyBC as concerning Belgian business interests.

According to the US treasury department, the three companies are linked to a Belgian businessman who allegedly coordinated purchases of electronics for military applications aimed at Russian end users through a network of companies in Belgium, Cyprus and the Netherlands.

More information is expected to follow.

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