President Vladimir Putin has vetoed a bill that would have strengthened the rights of Cyprus-based companies doing business in Russia, Interfax reported on Thursday, citing the government's newspaper.
The bill would have made it harder to impose sanctions and other legal pressures on Cyprus-based companies that have invested in Russia since 1987, Interfax said. The bill was passed by the State Duma and the Federation Council earlier this month, Interfax said.
Cyprus has been one of the three largest foreign investors in Russia for years, as its tax structure entices Russian entrepreneurs to incorporate on the island. (Bloomberg)
This may be of some he;p in fighting for the return of assets from Mr Chelsea as he has some of those stripped from SBE based here.
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