<ul><li>Australia has officially removed Cyprus-based businessman Igor Makarov from its autonomous sanctions list, becoming the second Western government to do so after the UK.</li><li>The decision follows a review by Australia’s Department of Foreign Affairs and Trade, with Makarov's name no longer on the country's Consolidated List of sanctioned individuals.</li><li>Makarov, founder of ARETI International Group, was initially sanctioned in April 2022 for alleged ties to the Kremlin or benefitting from Russia’s war efforts.</li><li>Beyond business, Makarov is known for his philanthropic work and role in international cycling, having renounced his Russian citizenship in 2023.</li></ul>

Australia Delists Cyprus-Based Businessman Igor Makarov from Sanctions List

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