Cyprus is undertaking a decisive transformation in its financial and regulatory landscape, signaling a clear departure from its historic reliance on Russian capital. Deputy Europe Minister Raouna highlighted the government’s commitment to fostering a more transparent and compliant environment, aligning closely with European Union standards. This new approach reflects Cyprus’s aim to enhance its reputation as a trustworthy international financial hub, reducing vulnerabilities linked to illicit financial flows and opaque investments. Key reforms include tightening anti-money laundering (AML) controls and enhancing cooperation with international watchdogs.

Notable changes introduced in…