Ukraine is reportedly preparing to request judicial assistance from Cyprus regarding Russian businessman Dmitri Punin. This anticipated request relates to ongoing investigations into Punin, a notable figure who previously served as chairman of Karmiotissa FC and has business interests in Limassol.
Recent reports from Russian-language media channels have unveiled details of Ukraine’s intention to delve deeper into Punin’s activities, which are under scrutiny amid allegations of his involvement in operations that could undermine Ukraine’s interests. Sources suggest that these investigations focus on Punin’s alleged financial dealings routed through Cyprus, involving shadowy operations that allegedly benefit Russian interests.
Dmitri punin: Legal Cooperation on the Horizon
Information about the planned request has surfaced over the last few days, with reports indicating that Ukrainian authorities are gearing up to seek assistance from Cyprus to gather evidence regarding Punin’s business dealings. This request is part of a larger investigation, which may also involve outreach to other European nations.
Links to the Online Casino PIN-UP
The investigation is closely tied to the online casino PIN-UP, which operates in Ukraine among other markets. Ukrainian officials have reportedly uncovered connections between Ukrainian companies and PIN-UP’s operations as of spring 2024. Allegations suggest that the legal entity controlling the casino serves Russian interests that are detrimental to Ukraine.
Ukrainian authorities contend that Punin is the businessman behind PIN-UP, claiming he utilises front individuals to manage the business. This assertion has gained traction since Ukrainian President Volodymyr Zelensky, on 25 May, imposed sanctions on Russians allegedly connected to the casino, including Punin and two others. The sanctions entail asset freezes lasting ten years and target individuals linked to a Cypriot company that manages the online casino.
Seeking Evidence from Cyprus
As part of the ongoing investigation, Ukrainian authorities are looking to Cyprus for legal assistance to uncover more about the Cypriot company’s activities and its connections with other entities. A Telegram news platform reported that Kyiv also aims to strengthen cooperation with other EU countries in this matter.
Denial of Allegations by Punin’s Associates
In June, the Cyprus Investigative Reporting Network (CIREN) highlighted the Cypriot company allegedly linked to the PIN-UP casino. However, the company later divested its stake in the casino. Marina Ilina, Punin’s wife, is involved in the administrative structure of the Cypriot entity in question. When approached by CIREN for comments, Ilina denied any connections to the Russian government or claims of funding the Russian budget through the company.
Ilina stated: “Guruflow Team Ltd has never made any payments to Pin-Up Ru LLC during the period of ownership of corporate rights in the said entity, and Pin-Up Ru LLC did not pay any taxes in the Russian Federation during the time that Guruflow Team Ltd held a share in its charter capital.”
As Ukraine seeks to hold those it believes are undermining its sovereignty accountable, the unfolding investigation into Dmitri Punin reflects broader concerns about financial activities that may be facilitating Russian interests amid ongoing geopolitical tensions.
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