UK and Cyprus launch new crackdown on Russian dirty money to ‘starve Putin’s war machine’
That new unit will include new analytical tools and powers to investigate sanctions evasion and track funds being moved across Europe
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Your support makes all the difference.The UK has agreed a new deal with Cyprus to crack down on serious organised crime and illicit Russian finance, in what the prime minister has said is an attempt to “starve Putin’s war machine and protect global stability.”
The two nations have agreed to set up a new National Sanctions Implementation Unit to stop dirty money being funnelled through Europe, in addition to agreeing closer cooperation to tackle serious organised crime.
The partnership, agreed by Sir Keir Starmer and Cypriot president Nikos Christodoulides on Tuesday morning, will further strengthen the intelligence and security relationship between the two countries, the government said.
The new unit will include new analytical tools and powers to investigate sanctions evasion and track funds being moved across Europe, Downing Street said, as well as sharing expertise and intelligence to disrupt and intercept the flow of illicit finance through Europe to ensure the effectiveness of sanctions on Putin’s war machine.
It comes as the two countries deepen cooperation on serious organised crime, with the UK rolling out financial crime training packages to law enforcement teams in Cyprus next year, delivered by UK National Crime Agency.
The training packages will contribute to the crack down on the flow of illicit tobacco products being smuggled into the UK and will support the government’s safer streets mission, Downing Street said.
Sir Keir said the crackdown will “starve Putin’s war machine and protect global stability.”
“This government is delivering on our Plan for Change, which is built on strong foundations, including our national security. Only by working with likeminded partners can we protect our interests both at home and abroad”, the prime minister said.
“Together with the Republic Cyprus, we are stemming the flow of illicit finance through Europe to starve Putin’s war machine and protect global stability.”
The prime minister’s visit to the Commonwealth country on Tuesday morning is the first bilateral visit to the Republic of Cyprus in more than 50 years, with the last prime minister to visit for a one-to-one meeting being Edward Heath in 1971.
However, Sir Keir’s decision not to meet with president Ersin Tatar in the self-declared Turkish Republic of Northern Cyprus (TRNC) during the historic visit has sparked concern, with the PM being accused of “failed diplomacy”.
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