Rossiya Bank has €620 million frozen in Cyprus, according to its IFRS report.
The news comes as a surprise to analysts who give conflicting theories as to why the bank would keep such a large amount in a jurisdiction where rough times started long before the authorities froze all assets.
The good news is that the money is kept in a bank which avoided a deposit haircut, which means it will be available once the government lifts the freeze.
Sources: http://
Author: Mikhail Vesely