Cyprus will want to be compensated for economic losses that will result from further sanctions imposed on Russia, the island’s President Nicos Anastasiades said in a statement issued following the March 20-12 EU Council that discussed the Ukraine situation. “The next phase of restrictive measures will admittedly include extensive consequences on the economic and other relations between the European Union - and its member states - and Russia. Our country is not only facing our national problem but is also under a financial assistance program. This factor cannot be ignored or overlooked. As other member states we cannot accept measures affecting Cyprus tourism, our banking system or our services sector,” Anastasiades said. “In such a case and if there is a need for such a development, which obviously will require a new decision at European Council level, Cyprus calls for, and considers as a precondition, that the competent bodies of the EU will conduct a relevant study, both for t...