UK to help Cyprus fight russia's illicit finances

London will work with Cyprus to stop “the flow of illicit finance through Europe to starve putin's war machine and protect global stability.”

As part of this partnership, Cyprus will establish a new national sanctions enforcement unit with British support to combat illicit russian finance.

The unit will share expertise and intelligence between the relevant British agencies and the Cypriot Ministry of Finance to “intercept and stop the flow of illicit finance through Europe.”

It will also have the authority to investigate cases of evasion of Western sanctions and track funds moving through Europe.

Additionally, London will help Nicosia in the fight against organized crime and will conduct training for Cypriot customs and law enforcement officers in 2025.

Cyprus has frozen nearly $1.9 billion worth of russian assets since the start of russia's full-scale invasion of Ukraine in February 2022.

Source: European Pravda