Sanctions, money laundering crackdown prompt Russian departures

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Sanctions, money laundering crackdown prompt...
 © CyprusMail 2018
Russian ambassador to Cyprus Stanislav Osadchiy said Friday that EU sanctions against his country and a Central Bank of Cyprus (CBC) crackdown on shell companies have led to the closure of thousands of bank accounts belonging to Russians and the departure of companies from the island.

Addressing the Cyprus-Russia investment forum in Limassol, the ambassador said recent developments in the island’s banking sector have raised concerns in Russian business circles.

The EU sanctions and “the CBC campaign to locate and close so-called shell companies have led to the closure...


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Sanctions, money laundering crackdown prompt Russian departures


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Article Tags: sanctions, money, laundering, crackdown, prompt, russian, departures,

 

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