Cyprus and Russia signed a Memorandum of Understanding on customs cooperation, at the Ministry of Finance, on Friday.

The MoU enhances customs cooperation between the two countries and includes provisions for customs offences on the one hand and mechanisms to combat them on the other, Ministry of Finance Permanent Secretary Christos Patsalides said after signing the agreement on the part of Cyprus.

Asked if the MoU is an answer to those who accuse Cyprus of money laundering, Patsalides said “it is an additional tool to help combat all such offences”.

Published by: www.cna.org.cy