Cypriot President Nicos Anastasiades will head to Moscow on Feb. 25 looking for an economic boost from a country where many wealthy are still keeping money in Cypriot banks two years after investors had almost half their assets confiscated.
Anastasiades expects his meetings with Russian President Vladimir Putin will jump start more money coming in to Cyprus which is still under the aegis of international lenders who put up a 10 billion euro bailout after failed moves by the country’s banks brought it nearly to ruin.
“We trust that this visit will provide a new boost to the prolific economic relations of the Republic of Cyprus and the Russian Federation,” government spokesman Nikos Christodoulides said, according to Sputnik News.
According to Christodoulides, Cyprus is expecting to finalize and sign a number of documents in view of the visit that would prove its political will to deepen its cooperation with Russia which is estimated as “one of the most important economic partners of Cyprus”.
He said that Cyprus has “deep appreciation” for Russia’s upholding of a “principled position” and respect for international law on the Cyprus issue at the same time Cyprus is unhappy with European Union sanctions on Moscow for supporting Russian separatists in Ukraine.