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Monday, March 25, 2013

EU should be wary of Russian retaliation over Cyprus.

 With Russian citizens holding an estimated €30B in Cyprus, EU businesses might have to brace themselves for reprisals over the bailout deal for the island. "There are a number of large German companies operating in Russia," says former Kremlin adviser Alexander Nekrassov. "You could possibly look at freezing assets or taxing assets." However, Nekrassov doesn't think Russia will cut off gas supplies, as it did with Ukraine in 2009.

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