Talks break down over Cyprus gas field sell off

Talks between Russia and Cyprus on a financial rescue package have broken down after investors said they weren't interested in the country's offshore gas reserves. It means Cypriot Finance Minister Michael Sarris will fly home empty-handed after two days of crisis talks in Moscow.

Cypriot Finance Minister Michael Sarris
Cypriot Finance Minister Michael Sarris Credit: Reuters

Selling off gas reserves would have helped Cyprus raise billions of euros to qualify for loans it desperately needs from the Eurozone.

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UK customers escape bank levy

Around 15,000 savers in the UK arm of stricken Cypriot bank Laiki will see their deposits protected under British rules and will escape the Cyprus banking levy.