Share “Russia may help Cyprus only after its deal...”

Russia may help Cyprus only after its deal with EU

Published on NewsOK Modified: March 22, 2013 at 7:14 am •  Published: March 22, 2013

Medvedev's comments came after Cyprus' finance minister left the Russian capital without a hoped-for deal.

Russia's Finance Minister Anton Siluanov said Friday, according to Russian newswires, that the Cypriots failed to convince potential investors to buy into a state-owned firm managing revenue from the island's newfound offshore gas. He said Russian bankers equally showed no interests to Cyprus' offer of stakes in some of its banks.

Siluanov also said they were not discussing providing a new loan to Cyprus as the EU has set a debt limit for Cyprus — another loan potentially would raise Cyprus' debt burden.

Barroso said that the European Commission has yet to receive the new Cypriot proposals and urged all the parties to find a quick solution that "would be, of course, good for Cyprus and also, I believe, good for the euro area as a whole."