russian money — Cyprus has completely turned the page on Russian money, as confirmed by Deputy Minister for European Affairs Marilena Raouna during an interview in Brussels. She stated that the island nation will maintain “unequivocal steadfast support” for Ukraine when it assumes the presidency of the European Union in January 2026.
Russian money: Commitment to Ukraine’s Sovereignty
Speaking on the sidelines of an EU Council summit, Raouna emphasised that the ongoing Russian aggression against Ukraine would be a primary focus during Cyprus’s six-month presidency. “The Russian aggression against Ukraine is a European question. It is about defending our core principles, international law, territorial integrity, independence and sovereignty,” she declared.
Historical Parallels Drawn
Raouna highlighted the relevance of these issues for Cyprus, a member state that has experienced territorial occupation by Turkey. “This is particularly pertinent for Cyprus. We know firsthand what it means to have territorial integrity and sovereignty violated,” she remarked, drawing a poignant connection between Cyprus’s past and the current situation in Ukraine.
Focus on Sanctions and Support Mechanisms
As Cyprus gears up for its EU presidency, it aims to strengthen the implementation of sanctions against Russia. Raouna noted that Cyprus is not a NATO member but intends to provide political, economic, and humanitarian support for Ukraine. “We will focus on sanctions implementation and addressing sanctions circumvention,” she stated. Concerns over the Russian “shadow fleet” breaking oil embargoes near Greek and Cypriot waters were also raised. Raouna acknowledged, “It is certainly an issue of great concern that we need to address,” urging for more effective measures to combat sanctions evasion.
Utilising Frozen Assets for Ukraine
On the topic of using frozen Russian assets to aid Ukraine, Raouna indicated there is broad support among EU member states for continuing financial assistance. However, she emphasised that any proposed measures must be “legally sound and financially and economically viable for all member states.” This careful approach underscores Cyprus’s commitment to aligning with EU regulations while supporting Ukraine’s needs.
Reputation Shift and Economic Growth
Raouna dismissed claims that Cyprus still grapples with negative perceptions related to Russian financial influence, asserting that the nation has thoroughly “turned completely a page in that regard.” She pointed to independent reports that verify this transition, stating, “Our economy, which is demonstrating very solid growth and stability, has done away completely with any Russian capital.” She further noted that American companies now have a significant presence in Cyprus, contributing to its economic stability.
Humanitarian Initiatives in the Middle East
Beyond its commitments to Ukraine, Cyprus is also playing a critical role in the Middle East. Raouna referred to the “Cyprus Maritime Corridor” humanitarian initiative, which facilitated 10% of all humanitarian assistance entering Gaza in September, according to UN reports. She outlined a six-point plan focused on humanitarian assistance, reconstruction, and security issues related to the ongoing conflict.
Enhancing EU Engagement in the Eastern Mediterranean
Raouna stressed that this plan aligns with a larger 20-point initiative proposed by former President Trump and is available for the European Union’s consideration. “This is about the EU increasing its footprint in the Eastern Mediterranean and the Middle East because it’s inextricably linked with the security of the European Union and not just security but also its competitiveness,” she explained.
Prospects for Cypriot Unification
The recent election of pro-unification Turkish Cypriot leader Tufan Erhulman was described by Raouna as a “positive development”. She expressed Cyprus’s readiness to start negotiations for a comprehensive settlement in accordance with UN Security Council resolutions. “Progress on the Cyprus question, the European Union’s last divided and under-occupation member state, will be important not just for Cyprus but also for our region,” she stated, indicating a hopeful outlook for future discussions.
Looking Ahead to 2026
As Cyprus prepares to take over the rotating presidency of the EU Council in January 2026, the focus will undoubtedly remain on these pressing issues. By reaffirming its commitment to Ukraine and addressing regional challenges, Cyprus aims to assert its role as a proactive member of the European Union.
