1. To assess the extent and risks of US secondary sanctions to their members and clients. US secondary sanctions are those imposed under the Countering America’s Adversaries Through Sanctions Act (CAATSA), which provides that US sanctions may be imposed on any person/entity that facilitates a “significant transaction” with any of the designated Russian people/entities.
2. “In the case of a new client” who is subject to US Russia sanctions, members of the Cyprus Bar “are encouraged to avoid entering into any business relationship with them”.