Ukraine seizes $ 420 million in Cyprus-related Russian assets

Ukrainian officials have notified Cyprus of the foreclosure of $ 420 million worth of island-related stocks and securities owned by Russian billionaires and other businessmen who are Cyprus officials.

Cyprus government spokesman Marios Pelekanos told The Associated Press that Ukraine had raised the issue with “the relevant authorities of the Republic of Cyprus.”

But he said he “cannot disclose information” about whether the companies registered in Cyprus were used to protect their assets from the sanctions imposed after Russia’s invasion of Ukraine.

In a social media post, Ukrainian Prosecutor General Irina Benedictova said: Russian businessman As Mikhail Fridman, Billionaire of Alfa Bank, a Russian lender with a major business in Ukraine.

The Benedictova office previously explained how an unnamed “Russian oligarch and businessman”, who is deeply involved in the Ukrainian banking sector, tried to protect wealth from sanctions via Cyprus.

Cyprus “is committed to the effective implementation of both UN sanctions and European Union restrictions,” said Pelecanos, who will be punished by law for violations.

He added that Friedman does not have a Cyprus passport.

Cyprus said it would deprive eight Russians on the EU sanctions list and their families of citizenship.

The Russians received a Cyprus passport under a once-favorable investment citizenship program that was abolished two years ago following a secret investigation into Al Jazeera.

The report allegedly showed that the Speaker of Parliament and senior members claimed that they could circumvent the rules for issuing passports to fictitious persons. Chinese investor Probably convicted of fraud at home.

According to a 2021 report, more than half of the 6,779 passports were illegally issued to relatives of wealthy investors during the 13 years of the program, which generated more than € 8 billion.

The report found that the government misinterpreted the law on issuing passports to relatives and found that nearly 770 foreigners were mistakenly granted citizenship, primarily due to inadequate examination. Stated. (Source AP)


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