OFAC Unfreezes Assets for Cyprus and Russia-Linked Folks
Published Date: 12/22/2025
Notice
Summary
The U.S. Treasury’s OFAC just updated its sanctions list by removing several people from the blocked list, meaning their property is no longer frozen. These changes mainly affect individuals linked to certain companies in Cyprus and signal a shift in who can now access their assets. Keep an eye out for these updates—they could impact money flows and business dealings starting late 2025.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Multiple Individuals and Firms Unblocked
On November 24, 2025, OFAC unblocked the property and removed several named persons and entities from the Specially Designated Nationals (SDN) List (for example: ATTIKOURIS, Kyriakos; GEORGIOU, Marilena; SERGHIDES, Demetrios; HIGHTRAIL LTD; OMNIA SERVICES CYPRUS LTD). OFAC issued additional unblocking determinations on December 9, 2025; December 12, 2025; and December 18, 2025, removing other named persons and entities from the SDN List. Being removed from the SDN List means the listed persons’ property and interests in property subject to U.S. jurisdiction are unblocked.
Removal From Foreign Sanctions Evaders List
On December 18, 2025, OFAC determined that Evren KAYAKIRAN (Turkey) is no longer subject to the prohibitions in Section 1(b) of Executive Order 13608 and removed him from the Foreign Sanctions Evaders (FSE) List. That removal means the specific prohibitions under that Executive Order no longer apply to this named individual.
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