Israeli mining magnate Beny Steinmetz has been conditionally released from custody in Cyprus and is to reappear in court on September 14, a Cypriot police official said on Wednesday.
Steinmetz was detained in Cyprus last week on a Romania-issued warrant.
Steinmetz is at the center of a case dating back several years relating to his involvement in a group that allegedly tried to illegally secure land rights in Romania. He has already faced arrest in some other European countries on the same warrant but was cleared.
Steinmetz was detained last week when he arrived at Larnaca airport, due to a European Arrest Warrant (EAW) issued by the Romanian authorities, which has already been canceled in various European countries.
Steinmetz released on bail
His spokesperson said Steinmetz was released on bail, effective immediately, until they ensure that the cancellation of the European Arrest Warrant is valid.
Steinmetz "welcomes the decision as he remains confident that the Justice of Cyprus will realize that the European Arrest Warrant should not have been executed, due to the significant flaws presented in the legal process followed in Romania," the spokesperson said.
"This also goes in accordance to the conclusion that Greece, Italy, and Interpol have reached in the past."
He is also involved in a separate legal battle in Switzerland where he has been found guilty of corruption in a case regarding exploration permits for deposits of iron ore in Guinea.