© RIA Novosti/Michael KlimentyevRussian President Vladimir Putin, right, and Cypriot President Nicos Anastasiades during a joint news conference following Russian-Cypriot talks at the Novo-Ogaryovo residence, 25 February, 2015.
"Russia will continue to provide assistance to Cyprus in liquidating the aftermath of the debt crisis," Vladimir Putin said. Russia has already given Cyprus a €2.5 billion stabilization loan on favorable terms, the president added.
Russia's VTB Capital investment bank and the Cyprus Finance Ministry successfully placed Cypriot sovereign Eurobonds worth €750 million for the first time since the crisis, Putin said. "We think that consequently Russia has contributed and continues to contribute to the normalization of the situation in the eurozone after the difficult 2011-2012 period," the President commented.
Cyprus plunged into economic crisis in 2012 as the financial downturn in Greece spread to Cypriot banks and forced large account holders to accept reductions in the value of their deposits.
Russia has invested $33 billion in Cyprus, which is more than 80 percent of all foreign investment in the country, the Russian President said. Cyprus has invested $65 billion in the Russian economy.
The two sides expressed their confidence that joint efforts can boost mutual trade.Trade between the two countries declined in 2014, mainly due to the downturn in oil prices, the EU sanctions against Russia and Russia's response, according to the Russian President.
However, he is certain "joint consistent efforts would help in mending of the situation and returning bilateral trade to the growth path."
EU sanctions against Russia have complicated the economic situation in many European countries and would create wider problems for the whole European Union, President Nicos Anastasiades told TASS on Tuesday.
Overall Russia and Cyprus signed 9 deals that included a memorandum of understanding between the Russian Central Bank and the Cyprus securities and exchange commission, as well as cooperation deal with Russian investment agency 'Invest in Russia!' and the Cyprus Investment Promotion Agency.
Bad Boy Putin!
Doesn't the Western propaganda pros understand that nearly everyone loves a 'bad boy'? Especially the ladies! The dude's got scars and every dude knows that chicks dig scars! I thought our team here in the West was trying to make him look insane or something, not 'bad', as we've been taught to love this rock and roll type character all our lives. He's the leader of the resistance too, which means we must be the leader of the evil doers and that team always loses. Damn! It seems our propaganda team needs to do some remedial learning, perhaps Goebbels could teach them the basics they seem to have forgotten? Add some Bernays and the rest of the 'ole school' team.
To use a sports analogy so commonplace here in the States, it was the so-called 'bad boys' from New England Patriots that won the Superbowl, so that means we here in the States are playing the Seattle Seahawks role of throwing the game away just as we think we have it 'in the bag'. Is this what Faust understood Mephistopheles to mean when saying he does good, meaning to do bad? If we evil-doers want to win the game for the 'Dark Lord', who among us really think this is a good time to throw a pass? On the one yard line? Doesn't anyone see who is covering that receiver? It's 'Bad Boy Putin'... Damn, we are screwed!!! Damn! Damn! Damn!