articles | 21 March 2014

Cyprus abides by EU obligations on money laundering

The Finance Ministry officially dismisses recent claims of Cyprus being a safety net for wealthy Russian oligarchs.

Ministry of Foreign Affairs of the Republic of Cyprus expresses its utmost regret that common allegations presenting Cyprus as a “safety net” for the wealthy Russian oligarchs still persist, regarding the recent (19/3/2014) article titled “Mapped: Where Russia Stashes its Cash” by John Schoen, posted on CNBC’s website. According to an official announcement issued, the Ministry “outright dismiss these allegations, which are created for reasons of expediency, as preposterous and obsolete”.

At this critical political juncture for the EU, allegations of this sort are irrelevant to the implementation of specific restrictive measures (i.e. asset freeze and visa ban) decided by the EU against individuals responsible for actions undermining or threatening the territorial integrity,sovereignty and independence of Ukraine, it is added. Cyprus abides by its obligations as an EU member state and will accordingly implemented without fail any measures on the basis of agreed Decisions adopted at EU level, the Ministry concludes.

Source: Famagusta Gazette

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