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22 May, 2024
 
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Cyprus Confidential unveils scandalous financial ties

The dark web of Russian wealth unveiled in Cyprus leaks

Newsroom

The ICIJ investigation reveals that PwC Cyprus collaborated with at least 12 Russians under Western sanctions, aiding in wealth transfer during Russia's annexation of Crimea and the Donbass war.

In a deep dive titled "Cyprus Confidential," the investigation exposes Russia's dominance in Cyprus, highlighting the EU's struggle to control the nation and its bloated banking system fueled by illicit money.

As Russia invaded Ukraine in 2022, PwC facilitated Russian oligarchs, undermining Western sanctions.

Notably, German journalist Hubert Seipel received $700,000 from an oligarch-linked shell company, exposing ties to PwC Cyprus in his Putin-related book deals.

Abacus Ltd., a Cypriot company linked to PwC partners, takes center stage in a court dispute with Russian billionaire Petr Aven, accused of evading sanctions.

The ICIJ unravels Aven's wealth and Abacus' role, shedding light on the broader picture of financial intricacies.

The investigation further discloses Abacus serving 60 companies owned by Russian oligarchs, emphasizing its pivotal role alongside PwC.

The larger leak of Cyprus Confidential amplifies the understanding of Aven's wealth management and his ties to Alfa Group, notably cited in the 2019 Mueller report on Russian interference.

For more details, explore the comprehensive survey data linked here.

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Cyprus  |  finance  |  economy  |  Russia

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