Cyprus announces expansion of responsibilities of the Financial Sanctions Advisory Committee
21 Apr 2022
On 20 April 2022, the Ministry of Finance issued an announcement advising that the Council of Ministers, following the suggestion of the Minister of Finance, has decided to expand the responsibilities of the Financial Sanctions Advisory Committee (SEOK), which will include also the following:
- The examination of requests for the provision of services to individuals or entities which are impacted by the application of the financial sanctions of the UN Security Council and the restrictive measures of the European Union.
- The examination of requests in relation to the wrongful freezing of funds at credit institutions.
- The examination of requests by way of derogation of the restrictive measures of the European Union in relation to the acceptance of deposits and the provision of crypto asset wallet, account or the safekeeping of cryptocurrencies.
The Ministry’s announcement (in Greek) can be found here.