The tiny island country of Cyprus is in the spotlight this week for a surprise bailout plan that was specifically designed to tax deposits held by Russian gangsters and oligarchs.
You see, wealthy Russians love the country’s lax citizenship requirements, which provides an easy way to get black money into the European Union.
But that can’t be all that Russians love about Cyprus, right?
The Mediterranean nation is home to more than 10,000 Russians, notably in the coastal city of Limassol, which is home to several Russian schools, Russian-language newspapers, and boutiques that sell some of the world’s best mink coats.
Read more: http://www.businessinsider.com/russian-oligarchs-vacation-in-cyprus-2013-3?op=1#ixzz2O04h9LS2