On Tuesday, March 25, the US and Cyprus said they are formalising a collaboration to fight money laundering, evasion of Russian sanctions and other financial crimes.
This agreement will allow for Cypriot law enforcement authorities to receive access to US expertise on the topics.
Ekathimerini revealed that both the FBI and Cypriot police will be signing the agreement in the next few days, which includes the US Department of Justice.
The agreement aims to help “proactively detect, investigate and prosecute cases involving financial crimes”, in Cyprus. This was mentioned in a joint statement.
The Cypriot President, Nikos Christodoulides, had previously invited FBI and Justice Department officials to contribute to helping with investigations into allegations Cypriot financial service providers assisted Russian oligarchs skirt international sanctions.
Despite Cyprus’ claims that it had abided by international sanctions imposed on Russia following its 2022 invasion of Ukraine, the US has targeted several Cypriot-based companies, lawyers and accountants for allegedly contributing to dodging the sanctions.
Source: Ekathimerini.
