The Week in Cyprus, 28 Mar 2024
Collated news links of interest to ‘outsiders looking in’
Photo source: Cyprus PIO.
Welcome to the Week in Cyprus, a selection of links to articles of relevance to ‘outsiders’ looking in: investors or those with interest in international relations. Topics marked with * will be, or already have been, analyzed in our monthly issues of Sapienta Country Analysis Cyprus. The Week in the Cyprus Region is part of the Sapienta Cyprus Snippets series. Learn more about the different subsections here.
*Politics: US-Cyprus relations. The US is slowly tightening its embrace of the Republic of Cyprus. In its most recent move, the FBI and other US law enforcement agencies will be working directly with Cyprus agencies to tackle financial crimes. (Source: X.com).
*Professional services: AML supervision. Another client of yet another Cypriot law firm was slapped with US sanctions on 25 March. As part of the attempt to clean up its reputation, the government has told lawyers and accountants that their fiduciary services will be coming under the supervision of the Cyprus Securities and Exchange Commission (CySEC). Lawyers do not like it at all. (Sources: Financial Mirror and Cyprus Mail.)
* Gaza: food via Cyprus. Cyprus has become the focal point for the huge joint effort by the EU, US, United Arab Emirates (UAE), the UK and international organizations to transfer humanitarian aid by ship to Gaza from the Cyprus port of Larnaca. The first ship sailed on 15 March and Cyprus hosted a delegation of officials from 35 countries and institutions on 21 March. (Sources: European Commission, Reuters, in-Cyprus).
*Energy: LNG import terminal. Things seem to have calmed down with the much-delayed LNG import terminal after the energy minister, George Papanastasiou, met with high-level executives from the Chinese-led consortium. (Source: Kathimerini.)
*Economy: taxation. Cyprus is obliged to introduce green taxation, which has left the government with a delicate balancing act. More in the next issue of Sapienta Country Analysis Cyprus.
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