Putin attacks 'unjust, unprofessional, dangerous' Cyprus bank-levy plan

Putin attacks 'unjust, unprofessional, dangerous' Cyprus bank-levy plan

Russia’s president Vladimir Putin has strongly criticised the Cyprus bank levy proposals. Russian companies have an estimated €13bn in the country.

Russians have for years seen Cyprus as an investor-friendly jurisdiction with lax banking regulations and low taxes.

Mr Putin’s spokesman said criticised the plan in a meeting with economic advisers.

“Putin said such a decision, if taken, would be unjust, unprofessional and dangerous,” the spokesman said.

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