CYPRUS AND RUSSIA SIGN A NUMBER OF AGREEMENTS AND MEMORANDA OF UNDERSTANDING

Cyprus President Nicos Anastasiades and President of the Russian Federation Vladimir Putin held a meeting today at the Presidential Residence in Moscow, where they held private talks, followed by extended consultations of the delegations of the two countries.

Nicos Anastasiades (L)-Vladimir Putin (R)

Nicos Anastasiades (L)-Vladimir Putin (R)

After their meeting, which took place in the framework of the Cypriot President`s official visit to Moscow, the President of Cyprus and the President of Russia signed the Joint Action Programme between the Republic of Cyprus and the Russian Federation for 2015-2017, which constitutes an umbrella document, covering numerous areas of the prolific cooperation between the two countries.

In the presence of the two Presidents, a Memorandum of Understanding was signed between the Ministry of Finance of Cyprus and the Ministry of Education and Sciences of Russia for cooperation in the fields of research and technology.

Also, the Protocol of the 8th Cyprus-Russia Intergovernmental Committee for Economic Cooperation was signed, as well as a Memorandum of Understanding between the Ministries of Defense of the two countries for cooperation in the naval field.

An agreement was also signed between the government of the Republic of Cyprus and the government of the Russian Federation on military cooperation. The agreement was signed by the Ministers of Foreign Affairs of the two countries, Ioannis Kasoulides and Sergei Lavrov.

Moreover, an Agreement was signed between the two countries for cooperation in the fight against the illegal movement of narcotic drugs and psychotropic substances, as well as an Agreement for cooperation on combating terrorism.

In addition, a Programme of Cooperation was signed between the two countries in the field of Sciences, Education and Culture for the period 2015-2018.

A Memorandum of Understanding was signed between the Cyprus Investment Promotion Agency and the corresponding organization of Russia.

Meanwhile, the Cyprus Securities and Exchange Commission (‘CySEC’) signed today an updated Memorandum of Understanding (‘MoU’) with the Central Bank of the Russian Federation (‘Bank of Russia’), following the transfer of the functions of the Federal Financial Markets Service (‘FFMS’) to the Bank of Russia, which now oversees and regulates both the banking and the securities sector.

The signing of the updated MoU aims to further strengthen ties and enhance cooperation between the two supervisory Authorities, aiming specifically to facilitate the exchange of information and the more effective investigation of potential violations of the legislation governing the securities market.


Article written by CNA