German Intelligence Report Aid to Cyprus Could Benefit Russian Oligarchs

Cyprus could soon seek aid from the European Union's bailout fund. But according to a secret report by Germany's BND intelligence service, the aid might mainly benefit Russian oligarchs who have parked illegal money in bank accounts in Cyprus, SPIEGEL has learned. Russian deposits there total $26 billion.
A luxury hotel in Cyprus. Some $26 billion in Russian money is parked in Cypriot banks.

A luxury hotel in Cyprus. Some $26 billion in Russian money is parked in Cypriot banks.

Foto: Corbis