Troubled Cyprus prompts Medvedev to create Russias own offshore zone

Thursday 21st March, 2013

Russia A regular meeting of the government has been discussing a state project to develop Russia’s Far East and Transbaikal regions on Thursday, when Premier Medvedev introduced the idea of offshore zones in the country. “If there is so much fuss going on, may be we should think of creating a kind of zone of our own in the Far East. We have bunch of good places there — Sakhalin, the Kuril islands,” Medvedev said, referring to the ongoing economic turmoil in Cyprus. Speaking about the project, Medvedev called the budget for it as “unprecedentedly big” — more than $323 billion. The money…

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