The Council of Ministers has made the decision to revoke the passports of four Russians and their people who were being granted Cyprus citizenship under the island’s disgraced Citizenship by Expenditure (a.k.a. Golden Passports) scheme that was introduced to an abrupt conclude in November 2020.
The 4 Russian folks have been sanctioned by the European Union as a consequence of the Russian war in Ukraine. The four have been named as:
Mikhail Gutseriev, a important Russian businessman who was sanctioned for supporting the regime of Belarusian President Alexander Lukashenko.
Alexander Ponomarenko, chairman of the board of Sheremetyevo, Russia’s greatest airport.
Vadim Moskovic, a member of Vladimir Putin’s inner circle with an approximated web wort of just about US€2 billion.
Alexei Kuzmichev, one of the wealthiest folks in the planet, who according to EU regulators has “well established ties to the Russian president”
The 17 spouse and children members of the four have also experienced their Cypriot citizenship and golden passports revoked.
(A probe into the disgraced citizenship scheme uncovered that much more than fifty percent – 53% – of the 6,779 passports issued were being completed so illegally.)
Regulation corporations breached cash laundering rules
The Cyprus Bar Association has fined 4 unnamed regulation firms for breaching various policies including these on income laundering.
The head of the Association told Phileleftheros that the fines have been imposed pursuing investigations even further conditions are less than investigation.
The fines variety from €8,000 to €79,000 and the greater fantastic was imposed on just one law firm involved in a ‘significant number’ of citizenships. The agency confronted 45 allegations relating to breaches of the dollars laundering laws.
As far as we are informed, none of the legislation corporations that breached the regulations have experienced their licenses revoked.