Due to Western sanctions, many Russians living in Cyprus have begun to move from the southern part of the island to the north.
The move is due to the fact that restrictions for Russian citizens have come into effect in the Greek part of Cyprus, which is part of the European Union.
The restrictions affected access to banking services and other financial opportunities, the Economist article emphasized.
In the Turkish Republic of Northern Cyprus, such restrictions have not been introduced, which attracts many.
According to Nicosia-based demographer Mete Hatay, there are currently around 20,000 Russians and other foreigners living in the northern part.
For a region with a local population of only 550,000, this is a significant increase.
Previously, the southern part of Cyprus was popular with wealthy Russians. However, since 2022, Cyprus has joined the anti-Russian sanctions. Therefore, many Russians have flocked to the north of the country.
The northern part of the island is now becoming a new place to live for Russians facing sanctions.
