12° Nicosia,
25 October, 2020
Home  /  News

EU sanctions and shell companies shutdown raise concerns, Russian Ambassador says

“Some major Russian companies already left from Cyprus jurisdiction or think of doing it”

Source: CNA

Russian Ambassador to Cyprus Stanislav Osadchiy mentioned the shutdown of shell-companies, as well as EU sanctions among the developments raising concerns in Russian business circles, both in Cyprus and in Russian.
Addressing on Friday the Russia-Cyprus Business and Investment Forum, in Limassol, Osadchiy said that “the introduction of Europe`s anti-Russian package of sanctions in 2018 and the following campaign of Cyprus’ Central Bank on revealing and closing so-called shell companies led to the closure of tens of thousands of Russian clients’ accounts in Cyprus banks.”
“Some major Russian companies already left from Cyprus’ jurisdiction or think of doing it” he went on, noting that these developments are not to the benefit of the Cypriot or the Russian economy.
He expressed hope, these “handicaps in our relations” are temporary and that the two sides will be able to overcome them soon.

News: Latest Articles

According to the current Navtex, the Oruc Reis will conduct activities west and northwest of the Kastellorizo island ​​complex, and to its east reaching up to 6.5 nautical miles away

Friction in East Med to be prolonged

Turkey’s Oruc Reis seismic survey vessel will explore the area east of the 28th meridian for another two months, according ...
Kathimerini Greece Newsroom
 |  NEWS
Exempt from this rule are people who are exercising or actively eating or drinking

Masks made mandatory outdoors

Among the tighter restrictions to be enforced on Friday is a mandatory mask use rule in all outdoor public spaces
 |  NEWS
Thursday’s new cases smashed the record for the highest number of cases to be detected in a single day

188 new infections detected

188 new coronavirus cases were detected in the Republic of Cyprus on Thursday after 4,304 tests were conducted, raising ...
 |  NEWS