Sanctions Compliance in Cyprus: Establishment of the National Sanctions Implementation Unit
Economou Legal has issued a detailed publication on the enactment of Law 150(I)/2025, which introduces the National Sanctions Implementation Unit (ΕΜΕΚ – NSIU) within the Ministry of Finance. This legislative development creates a centralised framework for the effective implementation of EU, UN, and national sanctions in Cyprus.
The publication provides an overview of the law’s key provisions, including:
- The mandate and functions of the NSIU.
- Procedures for licensing, derogations, and appeals.
- Reporting obligations for individuals, companies, and institutions.
- The regime of administrative fines and available remedies.
- Safeguards for legal professional privilege.
NSIU represents a shift towards coordinated enforcement of sanctions in Cyprus, with important implications for regulated entities and market participants.
We invite our readers to read the full publication for an in-depth analysis.
Read the Full Guide: Guide to the National Sanctions Implementation Unit (ΕΜΕΚ - NSIU)
The content of this article is valid as of the publication date mentioned above. It is intended to provide a general guide and does not constitute legal or professional advice, nor should be perceived as such. We strongly recommend that you seek professional advice before acting on any information provided.
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