The Pan-Cyprus Bar Association (CBA) sent out a circular to its members, in which it reminded of the mandatory implementation of EU instructions in relation to Russian companies and individuals included in the sanctions lists. Europe reports.. Cyprus"

" In the event that among the clients there are those who fell under European sanctions, Cypriot lawyers are obliged to inform the CBA about who these clients are, as well as what types of movable and immovable property (houses, apartments, shares, deposits, etc.). ) they own (the total value must be specified),"

The Pan-Cyprus Bar Association reminded its members that those who work with Russian clients need to keep abreast of changes in international and European legislation and sanctions lists. Violation of sanctions by CBA members may result in administrative penalties from the association and criminal prosecution.

The Institute of Certified Public Accountants of Cyprus (ICPAC) has also sent instructions to its members working with Russian clients. ICPAC referred to a circular from the Cypriot Ministry of Finance, which states that accountants and auditors have the right to provide a limited range of services to clients under sanctions..

We are talking about services that are vital for companies and allow them to conduct basic activities, without which they cannot legally work.. The Ministry of Finance of the Republic of Cyprus referred to the list of services provided by the EU.

The list includes:.

preparation of annual accounts;

bookkeeping;

preparation of tax returns;

provision of administrative services;

payment of taxes.

Recall that the legal team of Ukraine, together with the executive authorities, in particular the Ministry of Economy, the Ministry of Energy and law enforcement agencies, is working on different platforms to legally fix Russia's guilt in the full-scale war that it launched against Ukraine on February 24, as well as to receive reparations from the aggressor.