Cyprus: ‘Safe harbor’ for Russian companies?

Experts in Russia present Cyprus as another safe option for Russian companies. Meanwhile, 200 Russians are flying from Larnaca to Moscow today with Aeroflot.

Cyprus:

Russian companies seem to see Cyprus as a safe haven for them to continue operating in the midst of sanctions imposed on Russian-owned companies. Typical is the case of the giant company Fix Price, which according to an article in the newspaper “Politis”, is moving rapidly in the actions required to move the company from the British Virgin Islands to Cyprus.

At the same time, according to the article, there is a tendency for Russian experts to promote Cyprus as a safe choice for Russian companies that are threatened with sanctions.

“Lifebuoy” for Ukrainians and Russians

At the same time, Ukrainian refugees arrive in Cyprus in order to find shelter with relatives and friends who live permanently in Cyprus as members of the large Ukrainian community. In this context, according to an article in the newspaper “Phileleftheros”, the Ministry of Interior will consider a request from the Federation of Employers and Industrialists for the issuance of residence and work permits, for humanitarian reasons.

The proposal does not only concern Ukrainian refugees but also Ukrainian and Russian citizens who are already in Cyprus and do not want to return to their countries due to the crisis. It should be noted that a number of Ukrainians and Russian visitors have been trapped in Cyprus since the beginning of the Russian invasion due to the termination of flights to the two countries.

Aeroflot humanitarian flight will arrive at Larnaca airport today for the repatriation of Russian citizens after an arrangement by the Russian Embassy. The plane is expected to depart from the island today, transporting about 200 Russian citizens to Moscow.

Loukianos Lyritsas, Nicosia

Source: Deutsche Welle

Source: Capital

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