The Cyprus publication reports that a “double-digit number of ‘companies’ with a large volume of work in their sector” have expressed their desire to leave Cypriot jurisdiction in recent months.
Giant Russian companies have left Cyprus in droves. This was reported by the Cypriot newspaper Phileleftheros.
It is reported that a “double-digit number of ‘companies’ with a large volume of work in their sector” have expressed their desire to leave the Cypriot jurisdiction in recent months. According to the publication’s forecasts, other business entities will do the same in the near future.
The newspaper explains this by the policy of the Cypriot authorities, which opposes the avoidance of sanctions against the Russian Federation.
As an example, the Cypriot publication reports the exit or plans for the exit of TCS Group (the parent company of Tinkoff Bank), developer Etalon Group, retailer Fix Price, United Medical Group (holding company of the European Medical Center), Transmashholding, Globaltrans and the Ozone marketplace.
The Russian publication Kommersant wrote that companies are being transferred to special administrative regions of the Russian Federation with a special tax regime or to neighboring countries, including Kazakhstan.
Let’s recall that in December last year the government of Cyprus ordered the island’s banking sector to stop all transactions in the ruble. The investigation into cases of Russians evading international sanctions with the involvement of Cypriot companies is ongoing.
The Republic of Cyprus became the thirtieth state to support security guarantees for Ukraine.
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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.