The Bank of Cyprus Might as Well Be Called the Bank of Russian Billionaires and Their Wealthy Friends. The Bank of Cyprus has major business operations in Russia and Ukraine. It has client representatives who are fluent in Russian. At least 50 percent of deposits in the Bank of Cyprus belonged to non-EU residents, and “much of the funds were suspected to belong to Russian oligarchs.” It does enough business with Russians that it told investors that economic sanctions would limit its financial dealings and expose the bank to risks related to sanctions against Russia and “certain Russian citizens and businesses.”
Commerce Nominee Ross Was Among Those Who Saved the Bank by Putting “a Majority” of Its Shares Into Foreign, Primarily Russian Hands. Ross Became Vice-chairman of the Bank… Alongside a Former KGB Agent. The Bank of Cyprus was saved by Wilbur Ross, and others through an “international rescue deal” that also put “a majority” of the Bank of Cyprus shares into the possession of foreigners, primarily, Russians. When the dust settled Russian oligarchs and their representatives were appointed to the Bank of Cyprus board of directors, as was Wilbur Ross, who became a vice chairman. Former KGB agent Vladimir Strzhalkovskiy became the other vice chairman. As such, Wilbur Ross “has close ties to Russian finance.” Being in this position at the Bank of Cyprus made “him a de facto business partner with Viktor F. Vekselberg,” who is known as “the oligarch’s oligarch.” Ross and Vekselberg’s representative have sat together on the nominations and corporate governance committee of the board.
Trump Sold a $95 Million Florida Mansion to a Russian Oligarch Who Ended up Being the Largest Shareholder of the Bank of Cyprus. Donald Trump sold a Florida mansion to Russian oligarch for $95 million. Soon thereafter the oligarch became the largest shareholder in the Bank of Cyprus.
Ross Has Praised Russia’s Putin and Opposed U.S. Policy, Favoring Russian Interests Instead. Wilbur Ross praised Vladimir Putin and thinks the United States should appease him by letting him annex part of Ukraine.
https://trumptransparency.org/research/the-shady-russian-ties-of-trump-commerce-nominee-wilbur-ross/
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