Nicosia set to appoint ‘czar’ for sanctions
Cyprus’ Cabinet decided last week on a series of measures and actions to improve coordination on issues concerning Russia-related sanctions, government spokesperson Constantinos Letymbiotis has said.
Letymbiotis said that taking into account the persistent challenges facing the Republic of Cyprus and the fact that Cyprus is a small and vulnerable economy in which the financial and services sectors have a significant contribution, the need to demonstrate zero tolerance towards the goal of safeguarding the country’s reputation as a reliable financial center is crucial.
He said that the presidency, in cooperation with the ministries of Finance and Foreign Affairs, recommended taking the measures that were approved by the ministers at a meeting.
The main measure is the appointment of a contact person at the Ministry of Finance who will be responsible for receiving all information from Cypriot and foreign authorities and who will also be responsible for the proper dissemination of all information.
The spokesperson explained that the aim of the appointment of a central point of contact is to ensure that information reaches the proper quarters at the right time, without delay.
