ekathimerini reports that former Kremlin adviser Alexander Nekrassov believes Russia may seek retribution if the Cypriot bailout deal affects Russians:
"Then, of course, Moscow will be looking for ways to punish the EU,” he said. “There are a number of large German companies operating in Russia. You could possibly look at freezing assets or taxing assets. The Kremlin is adopting a wait and see policy."
Russian government sources have said that the bailout deal is equivalent to a 10 per cent writedown.