Two Russian Businessmen Stripped of Cyprus 'Golden' Passports

Two Russian citizens have lost their Cypriot passports. The documents, obtained during the presidency of Dimitris Christofias, were revoked yesterday based on a decision by the Council of Ministers.

According to the largest newspaper in Cyprus, Phileleftheros, the individuals in question are Russian-Ukrainian businessman Konstantin Grigorishin and entrepreneur Igor Kasaev. Grigorishin received his "Golden" passport in Cyprus on April 1, 2011, while Kasaev was naturalized on May 25, 2012.

Former Russian oligarch Konstantin Grigorishin has faced attacks from Moscow and sanctions from the Russian Federation. Igor Kasaev came under Brussels sanctions following the onset of the Ukraine conflict and is also on the U.S. sanctions list.

Grigorishin is listed in Forbes' billionaires with a net worth of $3.1 billion.

During the Council of Ministers' meeting, both foreigners were categorized as high-risk individuals and were stripped of their "Golden" passports.