Eurozone officials are reported as saying that Russian investors are interested in buying a majority stake in the two biggest Cyprus banks, Popular Bank and Bank of Cyprus.
They were also quoted as saying that Cyprus received signals from Russia that it could consider contributing to the bailout if it got the same credit status as euro zone lenders – meaning it would get repaid right after the IMF.
It is likely to happen, an official was quoted by Reuter news agency as saying.
President Nicos Anastasiades is expected to travel to Russia to meet President Vladimir Putin in the coming weeks to discuss possible Russian help.
He will seek a 5-year extension of an existing Russian loan to Cyprus of 2.5 billion euros that matures in 2016 as well as a reduction in the 4.5 percent rate of interest by 1.5 to 2 percentage points.
