For decades, a flood of foreign money has poured into the island of Cyprus, bringing extreme wealth to a few, but leaving the EU member status with a reputation as a shady financial hub.
On Tuesday, the eight-month Cyprus Confidential investigation, carried out by dozens of journalists across the globe, revealed the sheer scale of dirty money that has been moved through Cyprus for oligarchs, tyrants, criminals and Russian president Vladamir Putin in recent years.
Among them is billionaire and former owner of Chelsea FC, Roman Abramovich, who like many oligarchs was sanctioned in the wake of Russia’s invasion of Ukraine in February 2022.
But how did Abramovich funnel money through Cypriot financial institutions and what does he buy with these vast sums of cash?
Regional independents entitled to speak as members of Opposition, Fianna Fáil legal advice states
Department of Social Protection defends ‘reasonable’ plan to require employees to work more days in office
Homelessness numbers drop slightly in December after record November
Two men (20s) killed and two others hurt as car strikes tree in Co Carlow
Did Abramovich’s funding of Chelsea FC breach financial fair play rules? And, what financial investments did the Russian football club owner have in Ireland?
Irish Times journalist Colm Keena, who is also a member of the International Consortium of Investigative Journalists which produced Cyprus Confidential, joins the podcast to discuss the how Cyprus fuelled the Kremlin’s financial machine in the years leading up to Russia’s invasion of Ukraine.
Presented by Sorcha Pollak. Produced by John Casey.