The reason was the entry of businessmen into the sanctions lists of the European Union.

Cyprus has launched a procedure for revoking the citizenship of four billionaires from Russia and 17 members of their families.

This is reported by the newspaper Phileleftheros with reference to the decision of the government of the republic.

The reason was that businessmen were included in the sanctions lists of the European Union because of the war with Ukraine.

According to the newspaper, Mikhail Gutseriev, Alexander Ponomarenko, Vadim Moshkovich and Alexey Kuzmichev will be deprived of citizenship.

Before the start of the war with Ukraine, the Russian version of Forbes magazine estimated their fortunes at 2.5, 2.9, 2.4 and 7.8 billion dollars, respectively, in total — at 15.6 billion.

Earlier, the President of Cyprus, Nicos Anastasiades, said that the government had allowed four Russians to be deprived of citizenship, but their names were not reported.