Cyprus Bailout Hits Snag Over Russian Mob Allegations

Pedestrians walk past retail stores on Ledra Street in Nicosia, Cyprus, April 22, 2012. Photograph by Chris Ratcliffe/Bloomberg

Cyprus, on the eve of planned talks over a bailout from its European neighbors, has run into a potentially serious glitch: A report alleging that the bailout would aid “Russian oligarchs, businessmen, and mafiosi who have invested their illegal money” in Cypriot banks.

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