Russians living in Cyprus have started moving to the Turkish Republic of Northern Cyprus from the southern part of the island because of sanctions.
This is reported by The Econimist.
The material says that until 2022, rich Russians massively settled in the southern part of the island. Because of the large number of Russians, the city of Limassol locals among themselves even began to call ‘Limassolgrad’.
But after the beginning of the SWO, the banks of southern Cyprus began to support the anti-Russian sanctions of the West, in connection with which Russian citizens began to leave en masse to the north.
Bank of Cyprus closed the accounts of 7,000 Russians due to sanctions risks.
