Today: March 22 2019
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Russians make Bank of Cyprus to return money to investors

Russians make Bank of Cyprus to return money to investors

Tags: Economics, Russia, Deposits, Banking, Cyprus

The site Bank of Cyprus published information about customers opening access to frozen during the financial crisis, Cyprus 6-month deposits in the amount of 900 million euros.

We remind you that the freezing of savings depositors was initiated by the troika of international lenders - the European Commission, the ECB and the IMF, who have invested in the economy of the Republic of Cyprus about 10 billion. Euros. As part of the conditions set by the "troika", the bank has restricted access to their depositors funds: in the bank's shares converted 47,5% investments, 15% were available in the accounts, 37,5% money frozen. Board Bank of Cyprus explains decision to unfreeze part of deposits improved financial performance of the bank.

The Board of Directors expects that this will increase the loyalty of the bank's clients and improve the economic situation in the country. Representatives of the Eurogroup, which opposed the defrosting of deposit accounts, have not yet commented on the decision of the members of the Bank of Cyprus. Prime-Time reports that the deflation of deposits is an initiative of ex-general director of MMC Norilsk Nickel Vladimir Strzhalkovsky, who currently holds the position of deputy chairman of the board of directors of the Bank of Cyprus. After the election in September last year, Strzhalkovsky called one of his goals work to restore the confidence of depositors to the bank, including Russian ones. After converting customer funds into bank shares, its main owners were Russian representatives. It is noteworthy that according to Prime agency information, one of the former subordinates of Strzhalkovsky in "Norilsk Nickel" Oleg Pivovarchuk in Bank of Cyprus is 5 million euros. In addition to Strzhalkovsky, the bank's management includes other influential persons representing the Russian Federation. Partner of international legal company Campio Group Denis Osipenko draws attention to the political and economic aspect of the process of defrosting the Bank of Cyprus. "The decision of the Cyprus crisis with the help of the restructuring of uninsured deposits of Laiki Bank in the post-Soviet space was perceived as the camouflaged pressure of Europe. At the same time in Europe, many believed that the blame for everything - the registration of offshore companies and the opening of accounts in European banks by representatives of the Russian establishment for the legalization of funds. It seems that the Russians are trying to return at least part of their money, taking advantage of the fact that Europe has now focused on the struggle for control over Ukraine, "says the lawyer.

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