Nikos Anastasiades Net Worth

Background and career

Nicos Anastasiades (Greek: Νίκος Αναστασιάδης [ˈnikos anastasiˈaðis]; born 27 September 1946) is a Cypriot politician and businessperson, who served as the seventh president of Cyprus from 2013 to 2023. Previously, he was the leader of Democratic Rally between 1997 and 2013 and served as Member of Parliament from Limassol between 1981 and 2013.

Having served in parliament for over three decades, Anastasiades was elected to the presidency in 2013 amid a deep economic crisis. He responded by negotiating a bail-out agreement with the Troika group, consisting of the European Commission, European Central Bank and International Monetary Fund. This required the island to generally cut public spending, though his administration remediated this by attracting significant foreign investment and then increasing the minimum wage, improving the economy. He was re-elected in 2018.

Anastasiades' foreign policy involved the greatest unification talks since 2004, but ultimately failed to reach an agreement. Another considerable legacy of his presidency is his longstanding relationship with Russia, dating back prior to his election due to his law firm that focussed on Russian clientele. Anastasiades signed several agreements to promote closer economic and financial ties with Moscow, turning Cyprus into a vehicle for Russian oligarchs to register their assets there and avoid international sanctions implemented since 2014. Coupled with the controversial investment-for-citizenship program, this created a perception of corruption, something that his supporters have denied, and he reversed his policies drastically following the Russian invasion of Ukraine. He was mentioned in the Panama Papers, Troika Laundromat, and Cyprus Papers leaks.