Cyprus helping Russia to counter US sanctions

Cypriot president Nicos Anastasiades with Putin in Moscow in 2015 (Photo: kremlin.ru)

 

Cyprus is helping Russia to attack US sanctions against human rights abusers, a leading activist has warned.

The accusation, by Bill Browder, a British campaigner, comes after Cypriot authorities honoured Russia’s request to question Browder’s law firm, Georgiades & Pelides, in Nicosia, for a second time.

Browder told EUobserver that the Russian investigation was designed to smear his name. Continue reading

Russian military get coveted foothold in Cyprus

THE RUSSIAN MILITARY will now be given full use of a Cypriot airbase and the main port at Limassol.

According to the Ministry of Defence in Nicosia the use of the Andreas Papandreou airbase will be only used for ‘emergency scenarios’ and humanitarian missions, but the move highlights growing co-operation between Russia and Cyprus.

As it stands, a Russian presence in the region is only made possible by the survival of the Assad government, with Moscow still hanging on to their personnel from the naval base in Tartus. Continue reading

Germany Snatches Gold from Cyprus

Just when it appeared the news cycle had moved on from Cyprus, the island nation came splashing back yesterday with news from the European Commission: Nicosia will be made to sell around three quarters, or €400 million (US$5.2 million), of its excess gold reserves. (“Excess?” Who has too much gold?)

What’s the big deal? ask some. When a person or nation is in a financial pinch, assets have to be liquidated.

True. But with Cyprus it’s not that simple. From the outset of this crisis, Cyprus has not been in control of its own destiny. Sure, Cypriot President Nicos Anastasiades was in on most, though apparently not all, of the discussions. Cyprus’s parliament voted on this and that, and ultimately “agreed” to the bailout agreement. But it was all smoke and mirrors. In the end, Cyprus was compelled to agree to a ruinous bailout package created and prescribed by Germany in consort with the European Commission, the European Central Bank (ECB) and International Monetary Fund. Now we learn from the Trioka that as part of the bailout agreement, Cyprus will have to sell the majority of its gold.

The important point to note is that this decision was effectively made by Germany and its ECB/EC/IMF allies, AND NOT CYPRUS. Continue reading