Putin says Cyprus plan unjust: Spokesman

AP, Monday 18 Mar 2013

Russia considers Cyprus bank deposit levy as 'dangerous' and could threaten its economic interests in the country

The spokesman for Vladimir Putin says the Russian president is strongly critical of a plan to levy a tax on depositors in Cyprus.

Russian companies have an estimated $19 billion in Cypriot bank accounts. Russians have for years seen Cyprus as an investor-friendly jurisdiction with lax banking regulations and low taxes.

A proposed bailout of Cyprus's economy would impose taxes on bank deposits of up to 9.9 percent.
Putin's spokesman Dmitry Peskov said the president criticized the plan in a meeting with economic advisers.

Putin was quoted by Russian news agencies as saying that the decision, if taken, would "unjust, unprofessional and dangerous."

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