Russia to revise its relations with Cyprus

Russia will adjust its relations with Cyprus in the event the island nation taxes bank deposits, Prime Minister Dmitry Medvedev said at the meeting of the Supervisory Board of Vnesheconombank, which was held in connection with a possible debit of up to ten percent of the funds from the bank accounts of the country. Medvedev said that he did not know who the author of the idea was. “This practice, unfortunately, was very well known and is familiar to many Russians from the Soviet period, when money was exchanged with coefficients and never returned. – said the prime minister. – But Cyprus is …

Read more