Russian businessmen with operations in Cyprus have launched their own political party in the Mediterranean island in an effort to gain even more influence. The Cypriot Interior Ministry approved the registration of the “Russian party” under the name “Ego o Politis-I the Citizens”. The party is expected to soon make it political agenda and goals public. The party was initially set up by Russian nationals who have obtained Cypriot citizenship, many of whom took advantage of a law that permitted investors with over 2.5 million-euro deposits in banks and owning property worth 500 thousand euros. The party will be open to Cypriots and other European citizens and aims to modernize political life, at least as their representatives say.