US Experts Assist Cyprus in Probing Alleged Sanctions Evasion by Russian Oligarchs

Investigations focus on how Cyprus-based firms helped oligarchs avoid seizure of assets in line with sanctions related to Russia's war in Ukraine.

A team of experts from the United States, including members from the Federal Bureau of Investigation and the Department of Justice, is in Cyprus to assist in investigations into alleged sanctions evasion by Russian oligarchs.
The experts will advise Cypriot police on how to conduct probes into financial crimes and will assist a team of seven police investigators in sifting through old and new media reports.
The investigations are focused on allegations that Cyprus-based lawyers and accountants helped Russian oligarchs move their money through a network of companies and trusts to avoid seizure in line with sanctions related to Russia's war in Ukraine.
The latest allegations were published by the International Consortium of Investigative Journalists, citing leaked documents claiming to show how some Cypriot firms helped Russian oligarchs evade sanctions.
Cypriot President Nikos Christodoulides has expressed his desire for 'absolutely no shadows' to be cast over the European Union member country due to these allegations, as any adverse publicity could harm efforts to attract 'quality' foreign investment.