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Russia Won’t Aid Cyprus Victims

It’s been a tough time for Russia’s oligarchs. On Sunday night Russian First Deputy Prime Minister Igor Shuvalov announced that the Russian government will not move to aid any Russians who lose money in the Cyprus bailout—a move in line with Moscow’s attempts to prevent capital flowing to offshore tax havens. However, Shuvalov did say that if the Russian government has a large stake in a company hit by the bailout, it would examine assisting it.

April 1, 2013 8:23 AM