The disclosure raises serious questions about the role played by PwC Cyprus in a potential sanctions breach.
Details of the blue-chip accounting firm's work for the Kremlin-connected tycoon have emerged as part of the Cyprus Confidential project-a cache of 3.6m offshore records leaked to the International Consortium of Investigative Journalists and Germany's Paper Trail Media, which shared access with the Guardian and other media partners.
The files contain emails in which PwC Cyprus staff discuss attempting to transfer about a third of the shares in Tui, Europe's largest travel company, to the life partner of the steel, mining and banking tycoon Alexei Mordashov. The move shines a light on the services blue-chip advisers performed for wealthy Russian clients, amid a debate about the timings of when EU sanctions become fully active.
Since the invasion of Ukraine, western governments have imposed the largest ever package of sanctions against Russia and its business elite, and attention is now turning to ensuring those restrictions are enforced.
A spokesperson for the Cyprus ministry of finance said: "We are aware of Tui share transfers and a criminal investigation is being carried out."
A government spokesperson confirmed the investigation was "ongoing" and being conducted by the "responsible authorities" in Cyprus. He declined to give any further details.
PwC said it was unaware of any criminal investigation. In response to information in the leaked files, a spokesperson for the accounting firm said: "Any allegation of noncompliance with applicable laws and regulations is taken very seriously, investigated and appropriate action is taken if necessary."
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Netanyahu says Lebanon strikes will go on, despite ceasefire call
Benjamin Netanyahu has said Israel “will not stop” its attacks on Hezbollah in Lebanon despite calls from the US, France and other allies for an immediate three-week ceasefire aimed at containing the spread of a conflict that is beginning to engulf Lebanon.
Lammers blow against United as Twente hit back to share spoils
When Manchester United click as they did here for large swathes, their attack features organised chaos and their defence is compact, as shown by their four clean sheets this season.
Cricket: Jacks stakes his claim in crowded top order
It was a breakthrough century for Harry Brook at Chester-le-Street, that sublime unbeaten 110 his first in oneday international cricket and a first against Australia in any format. But the contribution from Will Jacks was not insignificant either, especially given the potential squeeze when some of England's big guns return.
Top football clubs breaking betting advert rules meant to protect minors
Half of Premier League football clubs have advertised gambling on web pages aimed at, or featuring, people under the age of 18, prompting concern about a voluntary code of conduct drawn up with the help of the betting industry.
Economic inactivity: Why cutting NHS waiting lists is key to boosting growth
Wes Streeting was in the right place when he announced plans to prioritise cutting NHS waiting lists in areas with the highest numbers of people out of work due to ill health. Liverpool, where the health secretary was speaking at Labour's annual party conference yesterday, is top of the list.
UK growth forecast upgraded as global outlook improves
The global economy is \"turning a corner\", according to the Organisation for Economic Cooperation and Development, which yesterday upgraded the UK's growth forecast for this year to be faster than that of Japan, Italy and Germany.
World's first AI art museum to look at 'creative potential of machines'
A prominent AI artist has announced he will open the world's first artificial intelligence art museum in Los Angeles, which will highlight the \"intersection of human imagination and the creative potential of machines\".
Officials brief Trump on suspected Iranian plot to kill him
US intelligence officials have briefed Donald Trump about a suspected Iranian plot to kill him, his campaign has said.
EU trust fund for Africa 'has not addressed risks of abuse'
A €5bn EU fund aiming to stem the mass movement of people from Africa to Europe lacks focus and fails to address the risk of human rights abusers who could benefit, the bloc's spending watchdog has found.
Letby case: father tells of 'headless chickens' at hospital unit
The father of two triplet babies murdered by Lucy Letby has described frantic scenes as the children collapsed, with medical staff in a neonatal unit appearing to search online for tutorials to guide them through \"everyday\" medical procedures.
