Further shrinking of Russian deposits in Cyprus banks 

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Further shrinking of Russian deposits in Cyprus...
 © In-Cyprus 2019
US pressure on Cyprus to combat Russian black money in banks seems to have gained ground considering that between 2012 and end of April 2019 these deposits shrank by €14.65 billion.

The reduced presence of Russian depositors in Cypriot banks seems to be linked with international efforts to combat money laundering activity within the EU.

Russian capital in the island’s banking system was significantly high even after the March 2013 haircut on deposits. However, US pressure on Cyprus intensified as from 2017 and the Central Bank of Cyprus responded by shutting down shell...


This article was automatically added to our system 29-5-2019

Further shrinking of Russian deposits in Cyprus banks 


The contents of this article including any associated images are © In-Cyprus 2019
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Article Tags: further, shrinking, russian, deposits, cyprus, banks,