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Cyprus Eastern Forum Index » General » Cyprus No Longer Mediterranean Haven for Russian Businesses
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Cyprus No Longer Mediterranean Haven for Russian Businesses 
Post: #1   PostPosted: Thu Jan 10, 2019 3:22 pm Reply with quote
Steve - SJD
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Cyprus No Longer Mediterranean Haven for Russian Businesses

For Russian businesses, Cyprus just isnít what it used to be.

New Cypriot anti-money laundering rules are compounding the effects of U.S.
sanctions against Russia and its high-profile citizens, driving money away from
the one-time haven.

The value of bank accounts at Cypriot lenders held by foreign nationals from
outside the euro-area ó mostly Russian ó fell to 7.1 billion euros ($8.1 billion)
at the end of November, according to the Central Bank of Cyprus. Thatís down
from a peak of 21.5 billion euros at the end of 2012.

En+ Group plc said Nov. 2 it... [Read More]

Cheers

Steve
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Cyprus No Longer Mediterranean Haven for Russian Businesses 
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