Cyprus was hoping close business ties with Russia could lead to more financial aid
LONDON (CNNMoney) It looks like a Russian rescue of Cyprus is off the table, at least for now.Talks between Russian officials and the government of Cyprus broke up early Friday, with no agreement on a cash infusion that could have helped the tiny island nation to secure an EU bailout.
Russian investors were ultimately not interested in the plans proposed by the Cypriot finance minister during a trip to Moscow, Russia's finance minister said Friday, according to state run news agency RIA Novosti.
One proposal was for Russian investors to develop the country's natural gas reserves. But the Russians will stand aside while Cyprus tries to find a way to recapitalize its insolvent banks with help from the so-called troika of European Central Bank, European Commission and International Monetary Fund.
Another way Russia could contribute is by relaxing the terms of an existing
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