Nicosia gets details on sanctions

The President of the Republic of Cyprus Nikos Christodoulides has announced that Cypriot authorities have received the first package of information from the US regarding natural and legal persons included in the US sanctions list, with two more packages expected soon.

Speaking at the 13th Nicosia Economic Congress on Tuesday, Christodoulides emphasized the importance of safeguarding and protecting the name and credibility of Cyprus as a business and financial center, particularly following the recent sanctions imposed by the US and the UK on Cypriot service providers.

He added that it is imperative to approach the matter seriously to ensure no one tarnishes the name of Cyprus.

Christodoulides further noted that the Cyprus economy showed resilience and strong recovery after the coronavirus crisis, with GDP increasing by 5.6% in 2022 in real terms, despite the difficult political climate caused by the illegal Russian invasion of Ukraine.
Additionally, he announced that the government is in advanced consultations with some countries, and they expect to see some significant investments in Cyprus within 2023.

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