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Gazprom offers Cyprus restructuring plan – Cypriot Sigma TV

March 18, 2013, 14:30 UTC+3
This scenario will make it possible not to impose levies on bank deposits up to 9.9 percent in accordance with a loan agreement with the European Union
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ATHENS, March 18 (Itar-Tass) – Russia’s Gazprom gas giant has offered the Republic of Cyprus financial assistance in restructuring the country’s banks in exchange for the right to gas production in the exclusive economic zone of Cyprus, Cypriot Sigma TV reported on Monday.

This scenario will make it possible not to impose levies on bank deposits up to 9.9 percent in accordance with a loan agreement with the European Union.

According to Sigma TV, the proposal that came to the office of President Nicos Anastasiades late on Sunday, envisages Gazprom’s substantial control over the country’s gas resources.

It says referring to a source close to the Cypriot president that Anastasiadis is not going to discuss that plan as he seeks the solution to the problem within the framework of the European Union.

The anti-crisis program for Cyprus passed in Brussels on Saturday envisages a ten-billion-euro rescue package, as well as the imposition of one-time levies on bank deposits for all depositors of the country’s banks.

The originally proposed levies on deposits are 6.75 percent for accounts under 100,000 euros and 9.9 percent for accounts exceeding this sum.

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