UKRAINE CRISIS HEIGHTENS FOCUS ON POTENTIAL RUSSIA DIRTY MONEY FLOWS IN CYPRUS
April 11th, 2014
THE INSTABILITY prompted by the crisis in Ukraine is increasing the risk of crime-tainted Russian assets being moved into new safe havens to avoid the effects of possible sanctions. With EU member state Cyprus long favoured by Russian investors, and likely to be covered by any sanctions, could the self-proclaimed Turkish Republic of Northern Cyprus (TRNC) offer an attractive alternative? Michael Kosmides reports. CYPRUS has long been a favourite offshore jurisdiction for Russian investors. According to a 2013 working paper ‘Offshore jurisdictions ...
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