Cyprus became the first eurozone country to impose capital controls <a target="_blank">(Photo: jnocca93)</a>
Cyprus became the first eurozone country to impose capital controls (Photo: jnocca93)

EU and the World

MEPs demand Cyprus open up over Russia money laundering

By Andrew Rettman,
Brussels
,

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.

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.

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Cyprus became the first eurozone country to impose capital controls (Photo: jnocca93)

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Author Bio

Andrew Rettman Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.