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US financial audit experts in Cyprus to assist sanctions probe

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.

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