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The Council Regulation (EU) 2024/1745 (the "Regulation") amends Regulation (EU) 833/2014 and comprises the 14th EU sanctions package concerning restrictive measures related to specific activities.

On 25 July 2025, the Law on the Establishment of the National Sanctions Implementation Unit (EMEK) was published in the Official Gazette of the Republic of Cyprus. Through this legislative initiative, Cyprus strengthens its institutional compliance with sanctions regimes imposed by international and regional organisations by establishing a new central body the National Sanctions Implementation Unit (EMEK).

On 29 July 2025, the UK Supreme Court issued a decision that will shape the future of sanctions law.

In response to geopolitical tensions between Russia and Ukraine, the European Union adopted Regulation 833/2014 (the "Regulation")...

On 16 April the Ministry of Finance made an announcement regarding the imposition of a new reporting obligation, pursuant to the recent 12th EU sanctions package against Russia.

In June 2025, the Financial Action Task Force (FATF) published a detailed report examining the evolving threat of complex proliferation financing (PF) and sanctions evasion schemes.

A UK regulator's £4.7 million penalty against Citibank reveals how operational weaknesses in payment screening and account restrictions can undermine sanctions compliance. The enforcement action identifies specific process failures that allowed nearly 1,000 prohibited transactions worth £19.72 million to proceed despite sanctions restrictions.

On 11 June 2026, the Court of Justice of the European Union (the “Court”) delivered its judgment in Case C-81/24, Jenec. The case concerned the relationship between the right of access to a payment account with basic features under Directive 2014/92/EU (the “Payment Accounts Directive”) and the AML/CFT obligations imposed on financial institutions under Directive (EU) 2015/849 (the “AML Directive”).

The Survey on External Financial Statistics (EFS) is a mandatory quarterly reporting requirement for selected Cyprus entities conducting cross-border financial transactions. Understanding the legal framework, submission deadlines, and potential penalties is crucial for compliance with Central Bank of Cyprus regulations and avoiding fines that can exceed €85,000.

When advising on sanctions, the lawyer providing the relevant advice should be extra careful to cover all angles of the specific transaction.

As the war in Ukraine approaches its fourth anniversary, the European Union has announced its 20th sanctions package, indicating a further escalation of economic, financial, and trade measures targeting Russia.

In a significant development for Cyprus's regulatory framework, July 2025 marked the establishment of a National Sanctions Implementation Unit (NSIU)...

In today's complex regulatory environment, businesses engaging in international trade must navigate a wide array of compliance requirements.

On 2nd February 2016, the European Commission adopted an Action Plan on strengthening the fight against terrorist financing ...

The restrictive measures introduced by the European Union in respect of the actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine, ...

The European Union has significantly expanded its Russia sanctions regime by designating 34 individuals and 47 entities across multiple sectors, including military-industrial operations, shadow fleet energy transport, disinformation campaigns, and human rights violations connected to Alexei Navalny's death. These measures extend beyond Russian borders to target third-country facilitators in China, UAE, Turkey, and other jurisdictions, demonstrating the EU's evolving approach to disrupting international sanc

On the 25th of July, 2025, the Republic of Cyprus ("Cyprus") enacted Law 149(I)/2025, formally titled The Criminalization of the Violation of the Restrictive Measures of the European Union Law of 2025 (the "Law").

The year 2024 marks the 50th anniversary of the brutal military Turkish invasion and occupation of north Cyprus that has left an indelible mark on the island's history and its people.