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Subject Russia 'offers to write off Cypriot debt if Gazprom get access to untapped oil'
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Original Message [link to www.dailymail.co.uk]

Yesterday Cyprus's parliament overwhelmingly rejected a proposed levy on bank deposits as a condition for a European bailout of 10 billion euros.

Today Michael Sarris, Cypriot Finance Minister, said that he hoped to secure a loan agreement with Russia today as he travelled to talks with Russian Finance minister Anton Siluanov.

Cyprus has asked Russia for a five-year extension of a loan of 2.5 billion euros ($3.22 billion) that matures in 2016, as well as a reduction in the 4.5 percent rate of interest.

Cyprus has also asked Russia to loan it a further 5 billion euros, the Russian finance ministry says, but Moscow has not announced a decision on the request.

President Vladimir Putin called the decision to seize money from savers’ bank accounts as ‘unfair, unprofessional and dangerous’.

Representatives of the Russian energy giant submitted the proposal to the office of Cypriot President Nicos Anastasiades on Sunday evening.

It is also rumoured that the Kremlin is privately offering to help bail out Cyprus in exchange for the right to use a naval base in the Greek part of the island.

Moscow has already handed over £2billion to prop up the economy of Cyprus and is now in talks to restructure the assistance programme.
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