Cyprus hopes for a 5 bln euros bailout from Russia, Is this Russia's New 'Harbor' in the The Mediterranean Sea?(ANSA).NICOSIA - Cyprus is hoping for a 5 billion euros bailout package from Russia, an aide to the country's leader said the day after President Vladimir Putin spoke to his counterpart on the Mediterranean island, as Cypriot media report today quoting The Moscow Times. Unable to raise debt on international capital markets and heavily exposed to the financial woes of Greece, which is at the heart of the euro zone's debt crisis, Cyprus also sees enormous volumes of transit money channelled through offshore companies set up for Russian businesses. Cyprus is looking forward to a positive decision from Moscow regarding its appeal for aid, said Christos Christofides, director of the Cypriot president's executive office, RIA-Novosti reported Wednesday. President Demetris Christofias, a Soviet-educated Russian speaker, held a telephone conversation with Putin on Monday, according to a statement on the Kremlin's website. Cyprus received 2.5 billion euros of credit from Russia last year. The troubled Mediterranean island has also requested assistance from the euro-zone financial decision-making "troika" of the International Monetary Fund, the European Central Bank and the European Commission.Hmmmm......Loose Tartus......Gain the whole The Mediterranean Sea, Cyprus and close to the Israeli Gas fields.The best 'investment' Russia ever could make.Read the full story here.
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