Global investigation claims Cyprus helped protect Russian wealth

·

A global investigation has revealed how Russian influence in Cyprus has helped oligarchs and billionaires structure their wealth over the years in the lead up to the 2022 full-scale invasion of Ukraine.

In a ‘Cyprus Confidential’ report released on Tuesday, leaked documents revealed PwC Cyprus personnel rushed to reorganise corporations owned by Russian billionaires as sanctions approached.

The report examined over three million documents, yet investigators said it was still unclear on whether PwC Cyprus worked with these clients at the time they were sanctioned.

Global investigation. Photo CyprusMail.
Global investigation. Photo: CyprusMail.

According to Cyprus Mail, Cyprus’ President Nikos Christodoulides responded to the claims and said “everything that has come to light will be investigated… no one is above the reputation of our country.”

Government Spokesman, Konstantinos Letymbiotis also spoke on the issue.

“We have seen the publications,” Letymbiotis said. “Tolerance for money laundering or sanctions-evasion is zero and will continue to be zero.”

Letymbiotis added that the government was working towards safeguarding Cyprus’ name abroad where sanctions were concerned.

Source: CyprusMail

Cretan Convention - Web Banner

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Northcote Festival bursts to life with culture, dance and community spirit

Spring sprung a week early as the Northcote Festival at the Holy Monastery of Axion Estin returned for its second year.

Retired Brisbane doctor Stan Theodoros faces Tribunal over alleged misconduct

Retired Brisbane doctor Dr Stellios (Stan) Theodoros is facing 25 allegations of professional misconduct in the QCAT.

Gogglebox star Anastasia Katselas undergoes emergency cancer surgery

Gogglebox Australia personality Anastasia Katselas has revealed she underwent emergency surgery after being diagnosed with uterine cancer.

Holy Eparchial Synod in Sydney names candidates for new Bishops

The Holy Eparchial Synod of the Greek Orthodox Archdiocese of Australia concluded its extraordinary three-day session with key decisions made

George Skemperis assumes role as new Consul General of Greece in Sydney

The new Consulate General of Greece in Sydney, George Skemperis, officially assumed his duties on August 20.

You May Also Like

Traditional Greek Recipes: Beef Stifado

This recipe is guaranteed to be loved by anyone you cook it for, as the pleasant taste will satisfy anyone’s appetite!

Book collaboration between Australian and Greek universities launched at Acropolis Museum

The launch of the book entitled Language and Freedom of Expression was held at the Acropolis Museum on Saturday, 19 November.

Greek Orthodox Archdiocese of Australia issue statement after Bishop Emilianos resigns

The Greek Orthodox Archdiocese of Australia has issued a statement following the recent resignation of Bishop Emilianos of Meloa.