Cyprus denies harbouring Russian oligarchs

In a written statement, Petrides claimed: “From the moment the sanctions were adopted, misinformation and fake news that painted Cyprus as opposed to the sanctions began to circulate in the international media”.

“For instance, Cyprus allegedly exercised its veto over prohibiting transactions by Russian banking institutions using SWIFT.

Petrides said implementation of sanctions, with frozen assets from credit institutions, totalled €105 mln.

Frozen assets from investment firms with Cypriot registrations were around €720 mln.

An additional €719 mln in funds were frozen under the Cyprus Securities and Exchange Commission’s supervision known as administrative service providers.

Source: Financial Mirror