Russia Refuses to Rescue Cyprus

Talks between Russia and Cyprus on Moscow’s possible bailout of the island nation’s economy have ended, with Russian investors rejecting Cypriot proposals, Russian Finance Minister Anton Siluanov said on Friday. “The final round of talks took place yesterday. The talks have ended,” Siluanov told journalists, adding that Russian investors “demonstrated no interest” in Cypriot proposals. Cyprus had offered Russia – which holds between one third and half of the island's bank deposits – investments in its national banks and gas projects in return for financial aid. It remained unclear if Sarris had managed to persuade Russia to extend an existing 2.5-billion euro ($3.2-billion) loan.

http://en.ria.ru/business/20130322/180177939/Russia-Rejects-Cyprus-Rescue-Deal-Proposals.html