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By Elona MORINA, European Affairs, ABBL
On the 29th of January 2019 the European Parliament’s TAX3 Committee held a public hearing on the Russian money laundering activities in the EU and the possible actions that the European Union could take in order to tackle the flow of “dirty money” coming from Moscow.
The experts present in the TAX3 Committee estimated that, since 1990, the Russian net outflows amounts at 8 hundreds billion dollars. More specifically, the way the money has flowed out of Russia into the EU has traditionally been considered to go through Cyprus, based on the agreement that the two parties have signed in 1992. It is alleged that the money was then transferred to the Virgin Islands, Britain and the US and a considerable...
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