NewsLocalTransport Minister orders inquiry into seized Abramovic aircraft registered through Cyprus

Transport Minister orders inquiry into seized Abramovic aircraft registered through Cyprus

Minister of Transport Yiannis Karousos has given instructions for an inquiry to be launched regarding the two recently-detained aircraft belonging to Russian oligarch Roman Abramovic since the purchase transaction is linked to Cyprus.

This is Philenews reported on Friday citing Karousos who also said the investigation’s aim is to determine whether any illegal activity is behind the registration of the US-seized aircraft worth over $410 million.

Both planes – a Gulfstream and a Boeing 787-8 Dreamliner – were registered through a series of shell companies in Cyprus, Jersey and the British Virgin Islands. And nowhere does the name of the owner is recorded.

The relevant shell companies registered in Cyprus are Finservus (Trustees) Limited and an associated one called International Trust (Trust) “The Europa Settlement Trust”.

Three more shell companies, registered in Jersey and the British Virgin Islands were also behind the purchase transaction, according to according to an FBI agent’s affidavit to support the seizure warrant.

Earlier in the week, a US judge approved the seizure of the two private planes for violating US export and sanctions laws.

The American-made planes were flown into and out of Russia without obtaining licenses from the US Commerce Department.

Airplanes and aircraft parts are subject to export rules because of their potential military use and national security implications.

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