https://www.theguardian.com/world/20...anctions-us-uk
‘Our credibility must be safeguarded’: Cyprus in turmoil after Russia sanctions
Island shuts 10,000 Russian bank accounts as US and UK put Cypriot lawyers and accountants under sanctions for enabling oligarchs including Roman Abramovich
……Attending this week’s emergency meeting at the presidential palace, the island’s central bank governor, Constantinos Herodotou, said Cypriot authorities had not only closed 123,000 suspicious bank accounts but about 43,000 shell companies.
“Cyprus was addicted to Russian money before the Americans very efficiently began weaning them off it,” said Prof Hubert Faustmann who teaches history and political science at the University of Nicosia. “They really have cleaned up their act and what we are seeing is the very last act in a story that has gone on for decades.”