Cyprus vowed on Tuesday to investigate alleged violations of sanctions against Moscow, exposed by an international consortium of journalists who suggest the island is a hub for Russian money laundering.
According to the International Consortium of Investigative Journalists (ICIJ) and 67 media partners, whose findings were published on Tuesday, Cyprus plays a bigger role than previously known in the transfer of dirty money on behalf of Russian President Vladimir Putin and other dictators.
The Consortium asserts that it has examined confidential documents from the mid-1990s up until April 2022. These documents include organisational charts, financial statements, bank account opening requests and emails.
These files provide a profound insight into the "unsavoury financial system" that has empowered some of the West’s staunchest enemies, according to the investigation, entitled ‘Cyprus Confidential.’
The president of Cyprus, Nikos Christodoulides, responded that everything that has been revealed would be investigated, stressing that no-one was above the country’s reputation.
“All information that has been revealed will be investigated promptly… Our country’s reputation, credibility… is crucial,” he told journalists.
EU member Cyprus has been regularly under fire from critics who accuse it of being a haven for Russian oligarchs to launder money and evade European and American sanctions imposed on Moscow.
