Other Russian banks in Cyprus include Sberbank, Gazprombank, Otkritie Capital, Aton Capital, UralSib Financial, BCS Financial and Promsvyazbank.

FORBES: Russian Banks Safe From Cyprus Fall Out, Official Says

Chris Weafer, chief strategist at Russian investment bank Uralsib, believes that Norilsk Nickel is one of the companies the state would love to add to "its list of national champions".

BBC: Russia's government avoids Norilsk Nickel battle