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Tag: sanctions

  • Turkey sanctions: Cyprus President Presents Evidence of Turkey’s Sanctions Violations to EU

    Turkey sanctions: Cyprus President Presents Evidence of Turkey’s Sanctions Violations to EU

    turkey sanctions — turkey sanctions — Cyprus President Nikos Christodoulides will present evidence of Turkey’s involvement in violations of sanctions against Russia during Thursday’s European Council session. This meeting is pivotal as it is the last before Cyprus takes over the EU Presidency on 1 January.

    Turkey sanctions: Focus on Supporting Ukraine

    Christodoulides intends to share specific data with other EU leaders that indicates breaches of European sanctions by Turkey. This follows a similar presentation made during his recent visit to Ukraine, where he met with President Volodymyr Zelensky.

    Upcoming Discussions on Financial Support

    One of the key topics at the Council will be Ukraine’s financial support for the 2026-27 period. Leaders aim to reach a consensus among the 27 member states, although Hungary has expressed reservations about the idea of common borrowing. The agenda includes discussions on utilising frozen Russian Central Bank assets to facilitate a compensation loan.

    Sanctions and Strategic Objectives

    The renewal of sanctions against Russia will ensure that Russian assets remain frozen until compensation is arranged for Ukraine. This strategy aims to alleviate the financial burden on EU member states while maintaining pressure on Russia to cease its military actions.

    Political Dynamics and Enlargement Discussions

    The upcoming session is also expected to address the EU’s enlargement, particularly concerning the Western Balkans, Ukraine, Moldova, and Turkey. Cyprus is keen on sending strong messages regarding its ongoing issues, especially with Turkey, and is committed to collaborating with the UN to support resolution efforts.

    Addressing Geo-Economic Challenges

    Christodoulides’ agenda will also touch upon the EU’s economic resilience in light of pressures from global powers like China and the United States. The discussions will focus on reducing dependence on external entities while enhancing the EU’s competitiveness and strategic autonomy.

    Multiannual Financial Framework Negotiations

    Another critical topic will be the draft of the Negotiating Box for the Multiannual Financial Framework (MFF) for 2028-2034. Member states aim for a political agreement by the end of 2026, as the MFF represents a significant priority for the upcoming Cyprus Presidency. The discussions will address various funding allocations, including support for Ukraine and the role of the Common Agricultural Policy.

    Diverging Views Among Member States

    Significant differences remain among member states regarding budget architecture and prioritisation. The proposed new MFF, amounting to €2 trillion, aims to redefine how the EU supports its initiatives, particularly with regards to security and economic stability.

  • Ukraine Seeks Cyprus Collaboration in Investigation of Russian Businessman Dmitri Punin

    Ukraine Seeks Cyprus Collaboration in Investigation of Russian Businessman Dmitri Punin

    Ukraine is reportedly preparing to request judicial assistance from Cyprus regarding Russian businessman Dmitri Punin. This anticipated request relates to ongoing investigations into Punin, a notable figure who previously served as chairman of Karmiotissa FC and has business interests in Limassol.

    Recent reports from Russian-language media channels have unveiled details of Ukraine’s intention to delve deeper into Punin’s activities, which are under scrutiny amid allegations of his involvement in operations that could undermine Ukraine’s interests. Sources suggest that these investigations focus on Punin’s alleged financial dealings routed through Cyprus, involving shadowy operations that allegedly benefit Russian interests.

    Dmitri punin: Legal Cooperation on the Horizon

    Information about the planned request has surfaced over the last few days, with reports indicating that Ukrainian authorities are gearing up to seek assistance from Cyprus to gather evidence regarding Punin’s business dealings. This request is part of a larger investigation, which may also involve outreach to other European nations.

    Links to the Online Casino PIN-UP

    The investigation is closely tied to the online casino PIN-UP, which operates in Ukraine among other markets. Ukrainian officials have reportedly uncovered connections between Ukrainian companies and PIN-UP’s operations as of spring 2024. Allegations suggest that the legal entity controlling the casino serves Russian interests that are detrimental to Ukraine.

    Ukrainian authorities contend that Punin is the businessman behind PIN-UP, claiming he utilises front individuals to manage the business. This assertion has gained traction since Ukrainian President Volodymyr Zelensky, on 25 May, imposed sanctions on Russians allegedly connected to the casino, including Punin and two others. The sanctions entail asset freezes lasting ten years and target individuals linked to a Cypriot company that manages the online casino.

    Seeking Evidence from Cyprus

    As part of the ongoing investigation, Ukrainian authorities are looking to Cyprus for legal assistance to uncover more about the Cypriot company’s activities and its connections with other entities. A Telegram news platform reported that Kyiv also aims to strengthen cooperation with other EU countries in this matter.

    Denial of Allegations by Punin’s Associates

    In June, the Cyprus Investigative Reporting Network (CIREN) highlighted the Cypriot company allegedly linked to the PIN-UP casino. However, the company later divested its stake in the casino. Marina Ilina, Punin’s wife, is involved in the administrative structure of the Cypriot entity in question. When approached by CIREN for comments, Ilina denied any connections to the Russian government or claims of funding the Russian budget through the company.

    Ilina stated: “Guruflow Team Ltd has never made any payments to Pin-Up Ru LLC during the period of ownership of corporate rights in the said entity, and Pin-Up Ru LLC did not pay any taxes in the Russian Federation during the time that Guruflow Team Ltd held a share in its charter capital.”

    As Ukraine seeks to hold those it believes are undermining its sovereignty accountable, the unfolding investigation into Dmitri Punin reflects broader concerns about financial activities that may be facilitating Russian interests amid ongoing geopolitical tensions.