Cyprus is close to securing a loan from Russia, the WSJ reports, adding that Cyprus may also go...

|By:, SA News Editor

Cyprus is close to securing a loan from Russia, the WSJ reports, adding that Cyprus may also go to the EU for a bailout. Local newspaper Alitheia says the government has asked for €5B ($6.2B) from the Russians, who lent the country €2.5B last year. Cyprus is in dire need of money by the end of the month to recapitalize its Greek-hit banks.