Economy category powered by

US financial audit experts in Cyprus to assist sanctions probe

08:20 - 05 December 2023

Economy Current Affairs

A group of financial audit experts from the US is currently in Cyprus assisting the local authorities in their investigation into recent reports that service providers on the island helped sanctioned Russian oligarchs hide their assets.

Government Spokesperson Konstantinos Letymbiotis confirmed their arrival to reporters, according to the Cyprus News Agency (CNA).

Following the publication of the “Cyprus Confidential” report by the International Consortium of Investigative Journalists, which alleged that certain Cyprus-based service providers helped Russian oligarchs circumvent the international sanctions that were imposed after the invasion of Ukraine, President Nikos Christodoulides said he requested assistance from a “third country” with expertise in investigating sanction violations.

News Feed

All News

Read More

China Enterprises Chamber in Cyprus holds first annual meeting in Limassol
Mouzourides: The economic footprint of FIBA ​​EuroBasket and why it is a unique opportunity for the hotel sector
Car registrations on the up- The brands with the most demand for new and used cars
Cyprus ranks first in EU in reducing Stage 2 loans by end of 2024, according to EBA report
Annual industrial production up by 3% in April, 3.8% in Q1 2025
Annual petroleum product sales increase of 9.9% in May, 2.5% since January
Cyprus a leader in solar energy use for water heating, says Energy Minister
Nuno Moura on the new code of digital marketing, TikTok, and the rules of the game
Association of Large Investment Projects: Reforms for a resilient economy, let's capitalise on positive developments
Parliament green lights €100m for 'haircut' depositors and bondholders