Siades: Western sanctions against Russia have hit the economy and tourism in Cyprus

Nicosia-Sana

Cypriot President Nicos Anasta Siades affirmed that Western sanctions against Russia have hit the areas of the Cypriot economy, particularly tourism, banks and export of services.

Russia Today website quoted Anasta Siades as saying in his speech to foreign investors, "The sanctions that we imposed at the European level on Russia had a negative impact on the island of Cyprus due to our relations with Russia in several areas."

He explained that his government has prepared a new package of tax incentives to make the island more attractive to foreign investors and qualified professionals, expressing hope that the Cypriot parliament will approve it next week.

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