Russia and Cyprus fail to reach agreement on financial help

Finance ministers of Russia and Cyprus have not reached a final decision on the financial support of the island nation. According to the head of Cypriot Finance Minister Michalis Sarris, who paid a visit to Moscow, the talks will continue later. Sarris said that Cyprus was counting on Russia's help.

The night before, at the initiative of the Cypriot side, Presidents Vladimir Putin and Nikos Anastasiadis discussed a complex of bilateral issues on the phone and analyzed the economic situation in Cyprus in light of EU's requirements to the island nation.

The Parliament of Cyprus did not support the bill on one-off tax on bank deposits, which would guarantee financial aid from the EU and the IMF.