Putin: Russian Federation will continue to help Cyprus in the aftermath of the crisis – RIA Novosti

Putin: Russian Federation will continue to help Cyprus in the aftermath of the crisis – RIA Novosti

Novo-25 Feb – RIA Novosti. Russia will continue to help Cyprus in the aftermath of the debt crisis, Russian President Vladimir Putin on Wednesday.

“Russia will continue to assist in the elimination of Cyprus the effects of the debt crisis. We have identified, as is well known, a large stabilization loan of 2.5 billion euros, went to meet him and to restructure loans on more favorable terms, “- Putin said after talks with Cypriot counterpart Nikos Anastasiadis. Putin said that as “VTB Capital” together with the Ministry of Finance of Cyprus successfully conducted the first post-crisis accommodation Cypriot sovereign bonds worth 750 million euros. “We believe that in this way the Russian Federation has made and is making a positive contribution to the normalization of the situation in the eurozone after a difficult period of 2011-2012,” – said the President of the Russian Federation.

He recalled that in 2014, unfortunately, decreased turnover between Russia and Cyprus, which was due to market factors, including the decline in oil prices, the negative impact of sanctions have also had anti-Russian and Russian response. Cyprus delivery of agricultural products to the Russian market fell sharply. “However, convinced by working together and purposefully, we can rectify the situation and restore mutual trade on growth path,” – Putin said.

The President noted high rates of investment cooperation between Russia and Cyprus. “Cyprus is the second largest investor in the Russian economy – $ 65 billion. We understand that this is largely the repatriation of capital, but if it goes through Cyprus – it is also a good idea when our money is returned to work in our economy . In turn, the Russian investment in Cyprus are also expressed in a very respectable figure – $ 33 billion is more than 80% of all foreign investment in Cyprus “, – said the president.

He said that in the Cyprus market actively Sberbank is working, “Russian Commercial Bank” (daughter VTB). Putin expressed hope that the country will be able to build a vigorous work of the intergovernmental commission and the Business Council.