Cyprus on Export Controls & Trade & Investment Sanctions

On 18 November 2024, the European Union announced a significant extension of its sanctions against Iran in response to Tehran's ongoing military support for Russia's invasion of Ukraine.

The European Union has adopted 14 sanction packages in response to Russia's full-scale invasion of Ukraine, aiming to minimise Moscow's economic output and its capacity to fund and sustain the conflict.

Through the enactment of Regulation 269/2014 (the "Regulation"), the European Union imposed restrictive measures in response to Russia's actions which undermine Ukraine's sovereignty.