One Cyprus-based company has been included on the latest US sanctions list targeting individuals and entities said to be aiding Russia’s war efforts.
The US Treasury’s updated sanctions list, published October 30, names a Cyprus-based company by the name of Mostrello Commercial Ltd.
The company features in the section targeting Russia’s marine sector procurement. According to the US Treasury, Mostrello owns “Russian-flagged vessels that have been used by Russia-based UPT to conduct maritime missions.”
Russia-based UPT performs cable laying and associated support functions for the Russian government, including the Russian Ministry of Defence.
Other companies sanctioned for this activity were British Virgins Island-based Nikesto Investments Ltd, and Belize-based Berezia Management Ltd.
Overall, the latest US sanctions concern 275 individuals and entities “involved in supplying Russia with advanced technology and equipment that it desperately needs to support its war machine.”
The US Treasury statement read: “Today’s action targets both individual actors and sprawling sanctions evasion networks across 17 jurisdictions, including India, the People’s Republic of China (PRC), Switzerland, Thailand, and Turkey. In addition to disrupting global evasion networks, this action also targets domestic Russian importers and producers of key inputs and other materiel for Russia’s military-industrial base.”
