Ratings agency Moody's estimates Russian bank loans to Cyprus-based companies of Russian origin were $30-40 billion.
Overseas lenders, excluding those in Russia, had $59.2 billion of outstanding loans to Cyprus at the end of September, according to Bank for International Settlements (BIS) data.
The BIS data show lenders from Greece and Germany have the biggest exposures to Cyprus of the reporting countries.
Greece's Alpha Bank had a 4.8 billion euro exposure at the end of 2010, which it said stood at 4.6 billion at the end of September.
Germany's HSH Nordbank had about 1.6 billion euros in corporate loans to Cyprus at the end of September, mainly to ships belonging to German and international firms that are registered in Cyprus.