Despite last year’s events in the Cyprus banking sector, Cyprus continues to be the biggest foreign investor in Russia.

According to information released by the Russian Central Bank and reported by IN Business News, total investment into Russia through Cyprus – for the first three quarters of the 2013 – reached $12.9 billion. The sum includes capital investments, investment in securities and reinvestment of recovered debt.

This looks certain to be a record amount, given that in previous years, the sum of €13 billion represented an entire year and not just the first nine months.