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BNN: Cyprus seeks Russian bailout aid, EU threatens cutoff

Blog by Brad Herman | March 20th, 2013

Cyprus's finance minister pleaded with Russia for help on Wednesday to avert a financial meltdown after the island's parliament rejected the terms of a European bailout, raising the specter of a looming default and bank crash.

Finance Minister Michael Sarris said he had reached no deal on financing with his Russian counterpart, Anton Siluanov, but talks were continuing.