What has been evident since April 2023 after the massive American-British sanctions against Cypriot business entities was ratified in the most official way yesterday.
The reason for the joint announcement of Cyprus and the USA, which officially seals the cooperation of the Republic with the Americans to combat issues related to money laundering and actions to circumvent sanctions.
This development was more or less expected. A year ago and after the sanctions that had a strong Cypriot color, the government had announced that there would be cooperation with the USA. And this with the aim of dealing with the phenomenon of money laundering from illegal activities, but also to prevent entities (mainly of Russian interests) from bypassing the restrictive measures against them through Cyprus.
From then until today, various developments followed which were either officially announced, or were happening in the background and were revealed through publications. It is indicative that yesterday in the context of the latest package of restrictive measures imposed by the competent agency of the US Department of Finance (OFAC), there was a prior agreement between the competent government agencies of America and Cyprus.
Shortly after OFAC's announcement yesterday of the list of 15 legal and natural persons on which restrictive measures were imposed, the American ambassador in Nicosia, Julie Davis Fisher, spoke clearly of a joint effort. In her message on the “X” platform after first announcing the new package of restrictions, she added that she “appreciates the close cooperation with the Cyprus authorities to prosecute those who circumvent sanctions”. A report that shows a clear agreement between the Republic of Cyprus and the Federated States.
Request of Cyprus
Yesterday's joint announcement came shortly after the meeting of the Council of Ministers, while it had been announced by the President of the Republic. In the relevant text, the message is clearly given that this cooperation results from an initiative of Cyprus: “The Republic of Cyprus and the United States of America announce their cooperation in the field of justice to strengthen the capabilities of the Cypriot authorities to deal with illegal financial activities.< /p>
The United States of America responding to the request of the President of the Republic Mr. N. Christodoulides to further strengthen the capabilities of the Republic of Cyprus to deal with illegal financial activities, the US Department of Justice and the Federal Bureau of Investigation (FBI), with the support of the Office of International Narcotics and Law Enforcement Affairs and the US Embassy in Nicosia have established direct cooperation with the competent law enforcement authorities of the Republic of Cyprus to strengthen the capabilities of the Republic to detect and prosecute economic crime”.
It is also clarified that the cooperation will take an official form with the signing of agreement documents, while the departments and services that will implement the agreed are listed: “To this end, in the coming days, the Federal Bureau of Investigation (FBI) and the Cyprus Police will sign a Memorandum of Understanding formalizing the cooperation between the legal systems of the two countries, including the competent Law Enforcement Authorities, the Legal Service of the Republic and the Unit for Combating Cover-up Crimes and the MOKAS Financial Intelligence Unit”.
In fact, there is clearly talk of tightening bilateral relations, which will result in the armoring of the Cypriot legal system, as well as the economy of the Republic. It is emphasized once again that this cooperation results from the initiative of Nikos Christodoulidis: “Following the existing efforts to deal with money laundering and the phenomenon of evasion of sanctions, the US Department of Justice within 2024 will share its expertise in respective Cypriot Authorities so that they can proactively identify, investigate and prosecute cases involving financial crimes related to Cyprus, and will provide relevant expertise – a significant US investment in Cyprus' capabilities.
By tightening bilateral relations, the Republic of Cyprus aims to further strengthen its efforts to combat money laundering and to protect the Cypriot legal system and economy. The agencies of the US Ministry of Justice, as well as the other co-competent authorities of the US, have responded to the request of the President of the Republic, Mr. N. Christodoulidis. The closer cooperation of the two legal systems is a positive development and both sides look forward to the results that this cooperation will bring”.
We remind you that in April 2023 the financial sector of Cyprus adopted the Western sanctions USA and Britain), freezing bank accounts even of relatives of employees of Cypriot companies on which restrictions had been imposed. At that time, the blow was also felt in the field of administrative services on our island. This was followed by public statements by the government regarding the cooperation of the Republic of Cyprus with the USA, so that the latter would assist with expertise (FBI agents with expertise) in actions to combat financial crime. The publication of “Φ” on January 13 is also indicative, in which reference was made to contacts of officials of the American Embassy in Nicosia with officials of competent services and departments of the Cypriot state in order to prepare the ground for the descent of the operatives of the FBI.
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