Banking

NICOSIA, Cyprus (AP) — Cyprus has frozen about 1.5 billion euros ($1.6 billion) in Russian-linked deposits and assets in accordance with European Union sanctions over the war in Ukraine, the island nation’s finance minister said Thursday.Constantinos Petrides also told a press conference that Russian deposits in Cypriot banks have fallen from a stunning 40% of the total before the 2013 financial crisis — when big depositors were forced to take a cut on their money under a so-called “bail-in” deal — to 3.8%.He was responding to a report this week...