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A handful of Cyprus-based companies were among the 300 entities hit with US sanctions on Friday.
These are Robarin Ltd, Aquila Capital Group, Huriya Private Cyprus Ltd. The list named also named Huriya Private FZE LLE, as headquartered in Dubai but connected with Cyprus.
Huriya was used to facilitate the movement of Russian money into the UAE, according to the US office of foreign assets control (OFAC). The company’s CEO John Desmond Hanafin, an Irish national, “with assistance from corrupt government officials, also procured fraudulent passports for Russian clients wanting to hide their Russian nationality.”
The latest move from the US were described as “unprecedented global sanctions and other restrictive economic measures to further degrade the Russian Federation’s capacity to wage war against Ukraine.”
Carried out in coordination with the G7 and other international partners, a department of treasury statement described Huriya Private Cyprus was sanctioned for being owned or controlled by Hanafin.
Hanafin is the founder and CEO of Huriya. He is believed to have “facilitated the movement of Russian money into the UAE through Huriya.
Secretary of the Treasury Janet L. Yellen said: “From the beginning of President Putin’s illegal and unprovoked war, our global coalition has focused on supporting Ukraine while degrading Russia’s ability to conduct its invasion.
“Our collective efforts have cut Russia off from key inputs it needs to equip its military and is drastically limiting the revenue the Kremlin receives to fund its war machine. Today’s actions will further tighten the vise on Putin’s ability to wage his barbaric invasion and will advance our global efforts to cut off Russian attempts to evade sanctions.”
Aquila Capital Group was founded and led by Russian Federation national Sergey Yevgenyevich Velichko. It is a Moscow, Russia-based investment banking firm. ACG and its Russian Federation national employee Yulia Aleksandrovna Sergeeva worked with Hanafin to start operations in the UAE and open accounts with UAE banks.
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Contents of this article including associated images are belongs Cyprus Mail
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