russia

Report: Russia Offers to Bail Out Cyprus

"Russian energy giant Gazprom has offered the Republic of Cyprus a plan in which the company will undertake the restructuring of the country’s banks in exchange for exploration rights for natural gas in Cyprus’’ exclusive economic zone, Cypriot TV Station Sigma reported. Representatives of the Russian company submitted the proposal to the office of Cypriot President Nicos Anastasiades on Sunday evening. The proposal states that Gazprom will fund the restructuring of the country’s crippled financial institutions in exchange for substantial control over the country’s gas resources while Cyprus won’t need to take the harsh bailout package offered by the EU." Continue reading →

Continue ReadingReport: Russia Offers to Bail Out Cyprus

Confidential Wikileaks Cable (US Embassy in Nicosia) on Russian Money in Cyprus

"Curiously, the imposition of a tax on money deposited in Cyprus banks will hurt many Russian tax evaders, as the Wikileaks released cable below highlights, the amount of money placed in Cyprus by Russians attempting to evade Russian taxes is significant relative to the overall Cyprus banking system. The imposition of the tax is surely going to cause a flight of these funds out of Cyprus to a more stable tax haven--which is likely to destabilize the Cypriot banking sector even more." Continue reading →

Continue ReadingConfidential Wikileaks Cable (US Embassy in Nicosia) on Russian Money in Cyprus

Economists warn Cyprus will face a recession ‘for decades’ after EU deposit tax

"The controversial tax is seen hitting Russian pockets hard, with experts estimating that Russian deposits in Cypriot banks amount to at least 15.4 billion euros of the estimated 67 billion euros of deposits held by Cyprus banks. Russian President Vladimir Putin criticised the proposed tax, describing it, according to a Kremlin spokesman, as 'unfair, unprofessional and dangerous'. Russian Prime Minister Dmitry Medvedev was equally forthright. 'We should say this directly: this simply looks like the confiscation of other people’s money,' Russian news agencies quoted him as saying. 'I do not know who the author of this idea is, but this is what it looks like.'" Continue reading →

Continue ReadingEconomists warn Cyprus will face a recession ‘for decades’ after EU deposit tax

Russia warns UK against arming Syrian rebels

"The UK and Russia remain at odds over the supply of arms to Syria's opposition, with Moscow suggesting that any move by the British government to give the rebels military equipment would breach international law. The foreign secretary, William Hague, last week announced that Britain was stepping up its support for Syria's opposition National Coalition and would be providing non-lethal equipment to rebel fighters. The government is inching towards arming the rebels, with David Cameron indicating on Wednesday that the UK might be prepared to bypass an EU arms embargo as events on the ground unfold." Continue reading →

Continue ReadingRussia warns UK against arming Syrian rebels

Norway’s Sovereign Wealth Fund Flees Currencies Tainted by Stimulus Addiction

"Norway’s $713 billion sovereign wealth fund is turning away from the world’s biggest currencies and their debt-laden governments as policy makers undermine their exchange rates through unprecedented stimulus measures. The Government Pension Fund Global, the world’s largest wealth fund, cut its holdings in French and U.K. government bonds by almost half last year as it raised its share of government bonds in emerging-market currencies to 10 percent of its fixed-income holdings by adding investments in Turkey, Russia and Taiwan." Continue reading →

Continue ReadingNorway’s Sovereign Wealth Fund Flees Currencies Tainted by Stimulus Addiction

Uh Oh: “US is Deeply Concerned About Developments in the Ukraine”

"The US can't seem to stay out of anyone's business, including countries right on the border with Russia. Here's a statement issued by the US State Department: 'The United States is deeply concerned by recent steps taken in Ukraine to remove Members of Parliament from the Rada. We note with particular concern efforts to deprive Serhiy Vlasenko, a Member of Parliament and defense counsel for former Prime Minister Tymoshenko, of his seat in Parliament, his corresponding immunity from prosecution, and his right to travel outside Ukraine. These actions appear to be politically motivated due to his connection with Mrs. Tymoshenko.'" Continue reading →

Continue ReadingUh Oh: “US is Deeply Concerned About Developments in the Ukraine”

Russian official demonizes U.S. for ‘inhumane torture’ of adopted children

"A woman in the US state of Texas has killed her adopted Russian son, the Kremlin’s envoy for children said Monday, outlining the latest alleged abuse of an adopted Russian child by American parents. 'A three-year-old Russian child has been murdered by his adoptive mother in the state of Texas,' ombudsman Pavel Astakhov said on his office’s Twitter feed @RFdeti. 'Three-year-old Maxim was beaten (according to the investigators) by his adoptive mother, who fed him psychoactive drugs over a long period of time,' he said, expressing dismay that the US State Department kept silent about the case." Continue reading →

Continue ReadingRussian official demonizes U.S. for ‘inhumane torture’ of adopted children

Russian meteor blast had force of 300-kiloton nuclear warhead

"The meteor that exploded over the Ural Mountains in Russia Friday now appears to have been a small asteroid clearly unrelated to 2012 DA14, which flitted past Earth Friday afternoon. Researchers now say the object had a mass of 7,000 metric tons (7,700 US tons) and a diameter of about 50 feet. The asteroid's breakup at an altitude some 12 to 15 miles above Russia's Chelyabinsk region represents the largest recorded asteroid encounter since 1908, when another asteroid or comet exploded over the Tunguska River in Siberia, leveling some 820 square miles of forest." Continue reading →

Continue ReadingRussian meteor blast had force of 300-kiloton nuclear warhead

Why Do Millions of Russians Have Car Dashboard Cams?

"According to a report last year by Al Jazeera, an estimated one million Russian motorists have dashboard video cameras installed in their cars. This is not to capture moments like the meteor flight or even miraculous survivals of horrifying highway crashes. No, Al Jazeera reported that the cams are there to help stamp out police corruption." Continue reading →

Continue ReadingWhy Do Millions of Russians Have Car Dashboard Cams?

Russian Foreign Minister: Russia will never involve itself in ‘another Afghanistan’

"The head of the Foreign Ministry said Russia has no intention of deploying its military to the Middle East or North Africa, where social and political crisis is rampant, opting instead to work diplomatically with legitimate governments. 'This is my answer to those who wonder why we are not fighting for our positions,' Foreign Minister Sergey Lavrov said on the 'Sunday Night with Solovyov' program. 'We will not be fighting for our positions…and creating 'another Afghanistan' for ourselves. Never, under no circumstances!' Lavrov was referring to the Soviet experience in Afghanistan (1979-1989), which is being played out in similar fashion today by the United States." Continue reading →

Continue ReadingRussian Foreign Minister: Russia will never involve itself in ‘another Afghanistan’