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| Su-35 |
- Russia denied the reports of selling 24 Su-35's and 4 submarines to China. The reports came out as its new President Xi Jinping visits Moscow.
- The EU agreed to bailout Cyprus's troubled economy. It agrees to pay $10 billion euros while its government is to tax 40% of bank assets of over $100,000 and to let its major bank Laiki go bankrupt.
The head of the Cyprus's biggest bank, the Bank of Cyprus resigned on Tuesday. The banks will be closed for now.
Cyprus is known to be one of the major tax heavens. The Russian money consists of around half of the deposit amount.