Cyprus is set to welcome a specialized international team of five experts, adept in economic crime, to probe the intricacies surrounding Russian oligarchs as revealed in the ‘Cyprus Confidential’ investigation.

Brief reports indicate that this quintet will scrutinize information both from recent media disclosures and previously known facts, as confirmed by a reliable source.

This initiative follows a request by the Cypriot President for international aid in resolving these complexities. The team, equipped with profound expertise in financial crime, aims to decisively determine the involvement, if any, of local entities in assisting Russian oligarchs circumvent embargoes through asset disposal.

The operational scope and terms for this elite group are yet to be finalized, expected soon to ensure clarity and prevent complications. Their mandate involves access to highly sensitive data and resources, highlighting the gravity of their mission.

Contrary to some speculations, the assisting nation is not the United Kingdom, as explicitly stated by the source.

Meanwhile, during a meeting at the Presidential Palace, ikos Christodoulides was briefed on the implementation of decisions aimed at enhancing the framework for monitoring sanctions imposed on Russia by the USA, and the progress of investigations into sanction violations.

The meeting saw the participation of several key officials: Foreign Affairs Minister Constantinos Kombos, Justice and Public Order Minister Anna Koukkides-Prokopiou, Finance Minister Makis Keravnos, Deputy Minister to the President Irene Piki, the Director of the Diplomatic Office of the President Marilena Raouna, the Director of the Office of the President Charalambos Charalambous, and the Director of the President's Press Office Victor Papadopoulos.

Attorney General George Savvides and Deputy Attorney General Savvas Angelides also attended.

Victor Papadopoulos, Director of the President's Press Office, told the Cyprus News Agency that "the meeting updated the President on the progress made since June 28 regarding the enhancement of the sanctions monitoring framework, in response to sanctions against Cypriots and Cypriot companies."

Papadopoulos further noted that "the President was briefed on ongoing investigations into sanctions violations, stemming from complaints filed through the Unit for Combating Money Laundering (MOKAS), data received from the USA, and recent revelations by the International Consortium of Investigative Journalists (ICIJ)."

Moreover, Papadopoulos mentioned that President Christodoulides informed meeting attendees about his request for "foreign expertise assistance from a country well-versed in these matters," urging responsible officials to facilitate the arrival and integration of these experts into the ongoing police investigations."

Responding to journalists' questions after the Cabinet meeting, the Government Spokesperson, Konstantinos Letympiotes, added that Cyprus' agency responsible for cybercrime prosecution has already been reinforced with additional personnel. Further enhancements will be made as necessary, with individuals possessing the requisite background.

Letympiotes also mentioned that the expertise and experience of those coming from abroad, based on the practices and procedures of their home countries, will contribute significantly to the Cypriot government's resolve in thoroughly investigating and clarifying all elements. This includes both recent public disclosures and issues already before the authorities.

He emphasized, “As the President of the Republic has made clear, we will not allow any shadow to be cast on our country's name, especially any potential damage to our financial sector. Over the last decade, we have fortified this sector and taken serious measures to further improve it."

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