NICOSIA – American and British sanctions against rich Russians on Cyprus in the wake of Russia’s invasion of Ukraine is seeing the government being watched abroad to see how it deals with the fallout, said Attorney-General Georgios Savvides.

He told reporters that, “The issue of sanctions is very, very delicate… and my request is that we avoid making too many statements on the matter,” which he said could inflame it, Cyprus having a reputation as a money haven for rich foreigners.

He essentially reiterated what the Cyprus Bar Association said about the effect that has seen job losses in accounting and law firms that were sanctioned and see bank accounts frozen while the government decides how to react.

“When I had said we should not overreact and that there was an overreaction, I was accused of downplaying this issue. Far from it. Therefore, it is not necessary for senior state officials to make endless statements to the media,” the Chairman of the Cyprus Bar Association Christos Clerides said earlier, reported The Cyprus Mail.