Russian and Ukrainian billionaires among those losing ‘golden’ EU passports – media : Analysis

Cyprus has revoked 77 passports obtained through its golden visa program due to false declarations, failure to meet naturalization requirements, and criminal backgrounds. The program, scrapped in 2020, allowed citizenship for investments of at least €2 million. Among those affected are Russian and Ukrainian billionaires like Igor Kolomoysky and Oleg Deripaska. Allegations of local officials facilitating passports for individuals with criminal records prompted the action. Expanding to 86 cases, all revoked passports will be investigated by Cypriot police.

Analysis:
The article reports on Cyprus revoking 77 passports obtained through its golden visa program, with reasons including false declarations, failure to meet naturalization requirements, and criminal backgrounds. The program, discontinued in 2020, granted citizenship for investments of at least €2 million. Among those affected are Russian and Ukrainian billionaires like Igor Kolomoysky and Oleg Deripaska. The revocations stemmed from allegations of local officials aiding individuals with criminal records in obtaining passports. The investigation has expanded to 86 cases, which will be scrutinized by Cypriot police.

The credibility of the information can be deemed as reliable as it details concrete actions taken by the Cyprus government regarding the golden visa program and the resulting passport revocations. The inclusion of notable individuals like Kolomoysky and Deripaska adds significance to the story, potentially attracting more attention. However, the article might be biased against the golden visa program by focusing on negative aspects such as criminal backgrounds and alleged facilitation of passports.

In the broader context, the political landscape and the prevalence of fake news could influence public perception of this information. Such revelations can erode trust in governments and immigration programs, highlighting the need for transparency and accountability in such processes. The article underscores the importance of due diligence in citizenship-by-investment schemes and how misuse can have far-reaching consequences for both the individuals involved and the country’s reputation.

Source: RT news: Russian and Ukrainian tycoons among ‘golden’ EU passport losers – media