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.
So many Russians have made their home in the coastal port city of Limassol that they jokingly refer to the city as "Limassolgrad."
Source: Reuters
Limassol's tourist strip, which faces the water, has stores that cater to the Russians, selling everything from kefir (a Russian yogurt drink) to Russian beer.
Source: The Guardian
It's clear that the Russians are big buyers here when you see the large billboards advertising sea view villas and apartments — in Russian.
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