Eurogroup Assistance to Cyprus Will Not Affect Deposits in Uniastrum
OREANDA-NEWS. The Ministers of Finance of the Euro zone declared that, against the background of a complex of measures agreed with the Cyprus authorities, the financial assistance to be provided to Cyprus would ensure the financial stability in Cyprus and in the Euro zone in general.
Despite the fact that the complex of the agreed measures involves the introduction of an upfront one-off stability levy applicable to resident and non-resident depositors, this measure will not apply to deposits placed in Uniastrum Bank operating in Russia.
Uniastrum Bank is a Russian resident credit institution operating in the Russian jurisdiction and in accordance with the requirements of the Central Bank of Russia. Therefore, the rights of the depositors of Uniastrum Bank are protected both by the RF tax laws and by the general RF laws related to banking as regards protection of assets of the RF citizens.