Russia, Cyprus Have Good Prospects to Expand Cooperation – Russian FM

Russian Foreign Minister said that Russia and Cyprus have great potential to strengthen trade and economic ties despite tensions with the EU.

NICOSIA (Sputnik) – Russia and Cyprus have great potential to strengthen trade and economic ties despite tensions with the European Union, Russian Foreign Minister Sergei Lavrov said Wednesday.

"We have reviewed with special attention the prospects of expanding trade and economic ties. Despite well-known problems in relations between Russia and the European Union, we believe that there are good prospects," Lavrov told reporters at a joint press conference with his Cypriot counterpart Ioannis Kasoulides.

The Russian foreign minister added that intensified cooperation would be aimed primarily at expanding contacts in high-tech research, and boosting investment.

In late October, Cypriot Ambassador to Moscow George Kasoulides criticized economic sanctions imposed on Moscow by the European Union, the United States and several other countries, stating they had an impact on the island nation’s economic health.