A US Department of State official tasked with overseeing sanctions implementation is on a two-day official visit to Cyprus, it emerged on Thursday.
Erik Woodhouse, deputy assistant secretary for the division for counter threat finance and sanctions is slated to meet with members of the government and investment-related stakeholders.
Head of the president’s press office Victoras Papadopoulos said the meeting is taking place as part of the close cooperation between the US and Cyprus.
Speaking to the state broadcaster, he reiterated the goal is not to repeat “phenomena of the past” and to protect Cyprus’ reputation, so as to continue to attract foreign investments.
Cyprus was hit with a wave of sanctions from the US and UK in April, that brought to light questionable ties with Russian money.
Dozens of individuals and entities were described as “financial fixers” for for “knowingly assisting” sanctioned Russian oligarchs Roman Abramovich and Alisher Usmanov to hide their assets in complex financial networks.
The government immediately went into damage control mode, and President Nikos Christodoulides has since stressed the importance of protecting Cyprus’ reputation abroad.
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