Two Cypriot Companies and One Cypriot National Sanctioned by the US Over Russia Ties

A Cypriot national and two companies registered in Cyprus have been included in the latest round of sanctions imposed by the United States against Russia.

The updated OFAC (Office of Foreign Assets Control) list includes Bulat Yanborisov, the former director of the international Silk Way Rally project, who also holds Cypriot citizenship.

According to a press release from the US Department of the Treasury, the Russian Silk Way Rally Association conducts annual off-road races, which "the Russian Main Intelligence Directorate (GRU) uses as a cover for intelligence operations."

The sanctions list also includes Cypriot-registered companies Picotin Holdings Ltd and Sentimare Enterprises Ltd. According to the US Department of State, both companies are linked to Russian oligarch Vladimir Potanin, who has been on the sanctions list since December 2022.

On June 12, the US Department of the Treasury imposed sanctions on 30 individuals, particularly from Russia and China, in connection with the special military operation. The list includes citizens of Russia, Belarus, Moldova, Ukraine, China, and South Africa. A total of 33 people have been added to the sanctions list.