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EU's Tighter Rules Impede Transfer of Russian Money from Cypriot Banks
29.03.2013 09:55
EU's Tighter Rules Impede Transfer of Russian Money from Cypriot Banks
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Russian companies are facing difficulties in transferring their funds from Cyprus to other jurisdictions.

      Local law firms have been receiving an increasing number of complaints from their Russian clientele over tighter restrictions put in place in other European countries like Malta, Luxembourg or the Baltic states.

      Russians may be the hardest hit group of investors as the result of the unfolding banking crisis on the island which until now has been always regarded as a safe haven. 

Author: Mikhail Vesely

Tags: Russian banks Russian offshore companies    

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