Cyprus finance minister has left Russia empty-handed after tough talks in Moscow over possible bailout measures.

      Michalis Sarris met with his counterpart Anton Siluanov and first vice-premier Igor Shuvalov in Moscow to negotiate better terms for an earlier loan worth 2.5 billion euros and request a new 5 billion euro credit.

      The Cypriot finance minister was still optimistic that the sides could come to an agreement later.

      According to reports, state-owned Gazprom and Rosneft were not interested in the offers made by the Cypriot government.