Due to European Union sanctions imposed on Russia for invading Ukraine, 21 Russians with a "golden passport" will lose their Cypriot citizenship.
The government has decided to revoke the passports of 21 Russian nationals who were granted citizenship under the now-defunct Citizenship for Investment scheme on the island.
Four Russian investors, their wives, and their children are involved in the decision. According to reports, Russians operating in Cyprus were sanctioned by the EU because of their ties to the Kremlin.
The government has decided to revoke the passports of Mikhail Gutseriev, Alexander Ponomarenko, Vadim Moskovic, and Alexei Kuzmichev, as well as their 17 family members.
The names of the four businesspeople were found on the European Commission's sanctions list after the authorities conducted a search.
The list includes 1,100 people, including high-ranking Kremlin officials, oligarchs, and other prominent businesspeople in key economic sectors like energy, media, and the arms industry.
Sanctioned individuals are subject to a travel ban, which prevents them from entering EU territory.
Alexei Kuzmichev, one of the world's wealthiest people, has had his passport revoked. He is worth around €8.8 billion, according to Forbes.
Russian President Vladimir Putin is said to be close friends with Kuzmichev.
In February 2019, he received a Cypriot passport. His wife and three children were also issued with Cypriot passports.
In February 2017, Vadim Moskovic, one of Russia's largest landowners with a strong business interest in Cyprus, received his Cypriot passport.
His three children and wife were also granted citizenship. In Cyprus, Moskovic owns Granada Capital Cy and Ros Agro Plc.
He is the chairman of the Rusagro Group, which has agricultural and real estate development interests.
Moshkovic founded the Rusagro Group, a major pork and sugar producer, in 2004.
As a result of his involvement in economic activities that provide a significant source of revenue for the Russian government, Moskovic has been sanctioned.
Sheremetyevo International Airport's chair is Alexander Ponomarenko. In May 2016, he became a Cypriot citizen. All three of his children were also granted Cypriot citizenship.
He is thought to have ties to both Putin and the leader of the breakaway "Republic of Crimea," Sergey Aksyonov.
Mikhail Gutseriev is a well-known Russian businessman who is involved in the energy, potash, and hospitality industries in Belarus.
In October 2013, he was granted Cypriot citizenship, and his life partner and five children followed suit. He is a long-time friend of Belarus' President, Alexander Lukashenko.
By fLEXI tEAM