President of Cyprus Nikos Christodoulides presented evidence to the European Council regarding Turkey’s circumvention of sanctions against Russia, during discussions on the issue of Ukraine. The matter was extensively discussed at the Summit of EU leaders.
According to sources, the evidence refers to the use of shell companies, insurance firms, and other service providers that receive Russian oil, rebrand it as originating from another source, and resell it, thus ensuring a steady flow of funds to Russia.
The President reportedly noted that the evidence demonstrates in practice that Turkey – a candidate country for EU membership and a NATO member – is pursuing a policy that runs counter to the EU’s positions and the interests of Ukraine. He stressed that while the EU’s sanctions policy is effective, in order for it to be truly effective, ‘we must address the elephant in the room,’ namely, the circumvention of sanctions by third countries, particularly in relation to Turkey.
According to the same sources, there was no counterargument or dispute of the evidence presented by the President, and the issue was described as an ‘open secret.’ The discussion took place in the context of an exchange of views on frozen Russian assets, which could pose challenges and legal obligations for the EU in the event of court rulings.
The Cypriot side called for an in-depth investigation of the sanctions circumvention issue and for concrete measures to be taken. At the same time, Nicosia maintains reservations regarding the legal aspects related to the frozen Russian funds.
The President also said that during Cyprus’ Presidency of the Council of the EU, Ukraine will remain a priority. He will visit Ukraine in December, reaffirming the Republic of Cyprus’s support for Ukraine’s EU accession path ‘in line with the EU’s accession procedures.’