Search


	Podcast:		Business Daily
	Episode:		Russian Money, Cypriot Haven
	Category:		Business
	Duration:		00:18:45
	Publish Date:		2018-12-26 02:33:00
	Description:		Five years ago, Cyprus was in crisis. An international bail-out worth over ten billion dollars saved the economy from meltdown, but also cemented the Mediterranean country’s ties to wealthy Russians. Many of them received a slice of Cypriot banks for cash seized from their accounts to help fund the rescue plan. A controversial and lucrative investment-for-passport scheme has also attracted Russian money - as well as new EU scrutiny. While many banks have ditched their Russian clients and authorities have implemented a new system of stringent checks, Ivana Davidovic travels to the port of Limassol to investigate whether Cyprus has really cleaned up its act. (Picture: Yachts line the marina in Limassol, Cyprus; Credit: Sean Gallup/Getty Images)
	Total Play:		9