Nicosia Company found to be undermining Russia sanctions

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A Nicosia based company was identified by the US authorities among others, to be helping call off western sanctions against Russia and Ukraine.
US department of treasury stated on their website:

“OFAC (Office of Foreign Assets Control) designated 13 individuals or entities that have supported serious and sustained evasion of existing sanctions, two entities that operate in the arms or related material sector of the Russian Federation, four former Ukrainian government officials or close associates for being complicit in the misappropriation of public assets and/or undermining of democratic processes or institutions in Ukraine, as well as an entity owned or controlled by, or acting for or on behalf of, one of the designated individuals, five Crimean port operators, and one Crimean ferry operator”.

Also noticed and identified by the OFAC, is that several subsidiaries are owned 50% or more by VEB and Rosneft. Their actions have as a goal to overcome further attempts to abort their sanctions, alerting their international partners to align with US measures and provide them with additional information.