President Nikos Christodoulides emphasized that the government is fully attentive and proactive in addressing the revelations unearthed by the 'Cyprus Confidential' investigation conducted by the International Consortium of Investigative Journalists (ICIJ). He assured that thorough investigations have commenced, emphasizing their timely completion.

In response to inquiries about the formation of a special investigative team for 'Cyprus Confidential', President Christodoulides reaffirmed the government's and his personal commitment to fully addressing all disclosed information. "We are fully committed to addressing everything revealed," he stated, underscoring the government's clear stance on this issue.

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He highlighted that the investigation is already underway and reiterated its bounded timeframe, emphasizing that it will not be a prolonged process.

The President reiterated his stance that no individual is above the country's reputation and credibility.

Further commenting on the international media reports, he expressed his personal sentiments, stating, "Today's reports in the international press are not a source of pride for me."

Government Spokesman Konstantinos Letymbiotis has announced that the police have commenced evaluating reports related to the 'Cyprus Confidential' investigation. He indicated that based on these evaluations, procedures might be initiated to probe potential criminal offenses.

Speaking to journalists, Letymbiotis highlighted that priority is being given to cases currently under police investigation that are also mentioned in the recent reports.

Letymbiotis stated that some actions discussed in the reports were already known to the authorities and assured that all inquiries posed by journalists in the past have been addressed by the competent authorities.

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He noted that the reports do not suggest any actions contravening sanctions or the regulations of the Republic of Cyprus. He emphasized that there is no legislative gap or deficiency in Cyprus's legal framework.

"We will continue to strengthen our legislative and institutional framework," Letymbiotis affirmed.

Regarding the investigation of a 1.4 billion euro transaction through Cyprus, Letymbiotis confirmed that it was already known to the authorities and under investigation, with the Chief of Police prioritizing its resolution.

When asked about the possibility of establishing an investigative committee, he replied that all potential measures are under consideration, with decisions to be announced in due course. The Spokesman reassured that the government is committed to further fortifying the country's legal framework and sending a clear message about the protection of the Cypriot economy and system.

In response to inquiries about the recent revelations, Finance Minister Mr. Keravnos expressed particular concern that these investigations continue to portray Cyprus as a problematic financial/investment destination.

Regarding whether there is a criminal investigation against PwC for alleged sanction violations in Russia, the Minister confirmed that an investigation is underway, following directives from the Ministry of Finance on specific matters. He stated that the investigation is in progress and refrained from commenting further.

The Minister assured that all relevant issues would be thoroughly investigated, with clear instructions and timelines already in place. This includes examining amounts, timelines, and methodologies. When asked whether there should be greater transparency surrounding these issues, rather than waiting for foreign journalists' revelations, Mr. Keravnos stated that transparency is a hallmark of the current government. He noted that the government had previously mentioned steps taken regarding the revocation of a certain accounting firm's license in relation to these cases.

"I believe that most of what has been presented was already known, and precisely for this reason, this government has prioritized establishing institutions and safeguards to prevent such phenomena," he explained.

When queried if anything he read surprised him, he mentioned that none of the information was surprising, as these issues had been circulating for years. Asked whether these issues were being investigated in Cyprus, the Minister confirmed that several matters are under investigation, including activities that took place before the implementation of the sanctions.

He also emphasized that beyond legality and legislation, "there is something called ethics, which we must particularly heed in our country." Regarding whether he faces reactions from his counterparts when representing Cyprus abroad, Mr. Keravnos said he had not encountered such reactions, adding, "Let he who is without sin cast the first stone."

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