Russia Ties Cyprus Loan Terms to Release of Assets

Russia wants to play a bigger part in talks over solving Cyprus’ financial problems but will only restructure its loan to the island if its interests there, especially those related to VTB Bank, are protected, Moscow’s finance minister said.

Russian banks and companies have poured money into Cyprus since the 1990s, taking advantage of the island’s low taxes and relaxed business regulations.

Many of them were caught unprepared when major account holders in Cyprus were told they …

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