This happens when investigating cases of Russians evading international sanctions with the involvement of Cypriot companies.
The Government of Cyprus has ordered the island’s banking sector to stop all transactions in the ruble. The Cyprus Mail writes about this on Tuesday, December 5.
The corresponding decision was made by the US decision to send a team of FBI and Financial Crimes Enforcement Agency (FinCen) officials to the island to participate in the consideration of 29 court cases related to evasion on sanctions against Russia.
“Local banks have been required to stop all transactions in Russian rubles. Inspections have also begun at local law firms due to possible abuse of the accelerated business registration procedure for Russians, which gave them the opportunity to quickly obtain residence permits, work permits and tax benefits,” – said the message.
Earlier, the International Consortium of Investigative Journalism (ICIJ) released a report called Cyprus Confidential, in which it reported the facts of corruption and violations of international sanctions in Cyprus. The investigation, among other things, concerns the investments of Russian businessmen on the island and the issuance of “golden” passports.
Cypriot authorities, in an effort to whiten the island’s reputation as a business and financial center, have created a unit to monitor compliance with the international sanctions regime.
In the past, the media reported that Türkiye is often an intermediate destination for Russian companies.
G7 countries to impose sanctions on Russian diamonds – Reuters
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.