Oleg Deripaska, a Russian billionaire with ties to the Kremlin, has had his Cypriot citizenship revoked as the island nation clamps down on abuse of its passport-for-investment programme, according to local media.
Cyprus has stripped 26 wealthy people of their citizenship rights as part of a review of the 2013 policy that granted a passport to anybody who invested at least $2.2 million in the local economy, the Politis newspaper reported .
The Cypriot government has not confirmed the report. Mr Deripaska was once Russia’s richest man, making his fortune by consolidating Siberia’s vast aluminum resources under his control in the 1990s.
Oleg Deripaska Earlier this month, Cyprus announced it had identified 26 recipients of Cypriot passports under the citizenship-for-investment program that were under review.
The list included nine Russian citizens, Reuters reported at the time.
According to Politis, those nine Russians Deripaska, his wife and his daughter, as well as businessmen Vladimir Stolyarenko and Alexander Bondarenko and their families.
Via The Telegraph
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