A Cypriot court this week ordered that a defunct company owned by sanctioned Russian billionaire Roman Abramovich’s offshore trust be reinstated so it can pay the 14 million euros in VAT it failed to pay before it was closed.
Authorities cited legal constraints and registry practices in their explanations during a Parliamentary session. Abramovich’s involvement was never investigated, but officials admitted that his name appeared in documents […]
Almost all of Cyprus’ political parties received donations from people or companies connected to the citizen-by-investment scheme, which was halted amid allegations of corruption. Cypriot political parties received […]
Blue Ocean, tied to a sham superyacht charter scheme, was struck off the registry without paying its €14 million tax debt. The Attorney General claims the Legal Service […]
The Russian tycoon’s company, Blue Ocean, was dissolved, its directors vanished, and the money can no longer be recovered after 12 years of court battles. Members of Parliament are now summoning the Attorney General for explanations.
Cyprus slips 12 places in the 2025 World Press Freedom Index by RSF. Cyprus now ranks 77th among 180 countries. Legislative attempts by the government that would undermine press freedom are causing concern. Turkey’s increasing pressure on the media and growing concentration in the hands of businessmen undermine press freedom in the north.
Members of the Parliament have asked if authorities managed to reclaim millions in taxes from the now-defunct company that was owned by the Russian billionaire. Previous reporting by CIReN and OCCRP revealed the company’s involvement in a fake superyacht-leasing scheme.
A draft law allowing offshore funds to be brought into northern Cyprus with little oversight could turn the breakaway territory into a money laundering hub, experts warn.
Sammy Wilson is under investigation for failing to declare his interest in northern Cyprus before asking a question about the breakaway territory in Parliament.
