Friday

2nd Jun 2023

MEPs demand Cyprus open up over Russia money laundering

  • "The conduct of Cyprus … will have implications that go far beyond this case," the MEPs said. (Photo: jnocca93)

MEPs have urged Cypriot president Nicos Anastasiades to "correct" the mishandling of a Russia corruption case.

The 17 deputies voiced "grave concern" in a letter to Nicosia on Friday (26 October) that Cyprus was "actively assisting" Russia in "politically-motivated proceedings" against Bill Browder, a British human rights campaigner.

Read and decide

Join EUobserver today

Become an expert on Europe

Get instant access to all articles — and 20 years of archives. 14-day free trial.

... or subscribe as a group

They also called on Cyprus to hold an investigation into alleged Russian money laundering via Cypriot banks.

They said Cyprus was "neglecting its duties under the European directives to combat money laundering".

"The conduct of Cyprus … will have implications that go far beyond this case," they said.

The European Parliament has no power to compel Cyprus to act.

But the MEPs' letter, signed by German green Rebecca Harms, Swedish conservative Gunnar Hokmark, and Lithuanian liberal Petras Austrevicius, among others, shone a spotlight on recent events on the island.

Cyprus has invited Russian interrogators to question Browder's lawyers.

It has also produced no results in a four-year probe into the laundering of a €195-million Russian tax fraud through its banks.

Browder used to run a hedge fund in Russia.

He became a campaigner for EU and US sanctions on Russia after his lawyer, Sergei Magnitsky, exposed the fraud and was subsequently jailed and killed.

The MEPs noted that "every other European country, Interpol [the international police agency] and the Council of Europe have deemed the Russian proceedings against Mr Browder to be politically motivated".

They said they were "appalled" that Cyprus was helping Russia to frame Browder for the crime.

The letter comes after a British MP urged the UK treasury to recommend that Cyprus' international anti-money laundering rating should be downgraded over the same issues.

The Cypriot justice ministry denied wrongdoing in a statement on Friday.

It said its probe, which began in 2013, into the Russia money laundering case was "open and ongoing".

Cyprus helping Russia to roll back US sanctions

Browder, a British activist who inspired a US law on freezing assets of Russian human rights abusers, said he was "terrified" of going to Cyprus because it would extradite him to Russia.

EU monitoring Cyprus passport sales

The European Commission has said it is in a "dialogue" with Cyprus amid concerns on loopholes in its passport sale scheme.

US backs Europe on Russia deterrent

US defence chief James Mattis has praised European efforts to jointly deter Russian aggression, amid talks on EU military integration.

Latest News

  1. EU data protection chief launches Frontex investigation
  2. Madrid steps up bid to host EU anti-money laundering hub
  3. How EU leaders should deal with Chinese government repression
  4. MEPs pile on pressure for EU to delay Hungary's presidency
  5. IEA: World 'comfortably' on track for renewables target
  6. Europe's TV union wooing Lavrov for splashy interview
  7. ECB: eurozone home prices could see 'disorderly' fall
  8. Adapting to Southern Europe's 'new normal' — from droughts to floods

Stakeholders' Highlights

  1. International Sustainable Finance CentreJoin CEE Sustainable Finance Summit, 15 – 19 May 2023, high-level event for finance & business
  2. ICLEISeven actionable measures to make food procurement in Europe more sustainable
  3. World BankWorld Bank Report Highlights Role of Human Development for a Successful Green Transition in Europe
  4. Nordic Council of MinistersNordic summit to step up the fight against food loss and waste
  5. Nordic Council of MinistersThink-tank: Strengthen co-operation around tech giants’ influence in the Nordics
  6. EFBWWEFBWW calls for the EC to stop exploitation in subcontracting chains

Join EUobserver

Support quality EU news

Join us