Nicosia (Cyprus), Mar 26 (AP) The United States and Cyprus said on Tuesday they're formalising their collaboration in fighting money laundering, sanctions evasion and other financial crimes with an agreement offering Cypriot law enforcement authorities US expertise.

The FBI and Cypriot police will sign an agreement in the coming days that includes the US Department of Justice offering help to “proactively detect, investigate and prosecute cases involving financial crimes” in Cyprus, according to a joint statement.

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Cypriot President Nikos Christodoulides last year invited FBI and Justice Department officials to assist with investigations into allegations that Cypriot financial service providers had helped Russian oligarchs skirt international sanctions.

Although Cyprus has insisted it has abided by international sanctions imposed on Russia following its 2022 invasion of Ukraine, the US has targeted several Cypriot-based companies, lawyers and accountants for allegedly assisting in dodging the sanctions. (AP)

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)