Kosogov is a co-founder of LetterOne, Remedica’s parent company. Two other Russian businessmen at LetterOne have already been sanctioned: Mikhail Fridman and Petr Aven, also co-founders, were sanctioned by the EU and U.K. in March 2022.
“Remedica has not engaged in any discussions with the Cypriot government regarding concerns about EU sanctions related to individuals associated with LetterOne,” the generics firm said, adding: “Neither LetterOne nor Remedica have made any political donations to President Christodoulides’ administration.”
The government has denied the allegations made in the video and calls it “hybrid activity” aimed at harming “the image of the government and the country.” Investigators are examining whether the X video was from a sting operation by people posing as investors, reported Phile News.
Kosogov is not named on the EU sanctions list. There is no record in any public debates or meetings’ minutes at the European Commission, Parliament or Council of officials discussing Kosogov with regard to a possible EU sanction; his name is mentioned only in a June 2025 EU court judgement regarding another sanctioned individual, German Khan, who transferred ownership of his stakes in LetterOne and Russia’s Alfa Bank to Kosogov.
Renew MEP Sandro Gozi has written to the Commission asking which position Cyprus took during discussions on the possible inclusion of Kosogov on the sanctions list and “whether representations were made in his favour” by Cypriot representatives, reported Cyprus Mail.
In July 2025, Remedica donated €75,000 to the Cypriot government to support “wildfire relief efforts” in Cyprus.