Cyprus: Export Controls & Trade & Investment Sanctions

Two recent European Court judgments clarify when EU sanctions can freeze an unlisted company's funds through ownership or control by a listed person. The Inter Rao Lietuva and Abramovich cases establish different evidentiary standards and challenge routes, requiring businesses to understand the specific legal basis for any payment restriction.

The European Union has adopted its 21st package of restrictive measures against Russia, introducing significant new sanctions targeting the financial sector, crypto-assets, energy industry, and shadow fleet operations.

The European Union has adopted its 21st package of restrictive measures against Russia, representing the most comprehensive expansion of sanctions in four years with 218 new designations spanning banks, crypto platforms, military suppliers, and shadow fleet operators.

On 25 July 2025, the Law on the Establishment of the National Sanctions Implementation Unit (EMEK) was published in the Official Gazette of the Republic of Cyprus. Through this legislative initiative, Cyprus strengthens its institutional compliance with sanctions regimes imposed by international and regional organisations by establishing a new central body the National Sanctions Implementation Unit (EMEK).

Cyprus is undergoing a significant regulatory transformation in 2025, reinforcing its sanctions enforcement mechanisms and modernizing its anti money laundering (AML) laws...

In today's complex regulatory environment, businesses engaging in international trade must navigate a wide array of compliance requirements.

Through the enactment of Regulation 269/2014 (the "Regulation"), the European Union imposed restrictive measures in response to Russia's actions which undermine Ukraine's sovereignty.

The US Attorney for the Southern District of New York has issued a press release, providing details of the arrest in Cyprus of Arthur Petrov a Russian-German national in August 2023 for the purposes.

In light of ongoing geopolitical tensions, the European Union (EU) has announced significant steps to address the increasing hybrid threats and destabilising activities orchestrated by Russia against the EU...