Also if there will be political pressure, then Cyprus will bend as well. There are not many countries in that region that are immune to Russian political pressure.
There are
LOTS of Russian businessmen/investors who use Cyprus to hide themselves from Russian government. Every Cypriot can prove that.
I know that Cyprus is the main place for money laundering for Russian oligarchs, but they aren't doing it to hide from the government, or at least from those who are in charge. A lot of russians who launder their money through Cyprus, are actually the same people who have power in the government. They only have to hide their income from the public view and keep the appearance that there is no corruption. So, if the people in charge at Russian government are serious in getting BTC-E, then Cyprus will surely bend.
I bet that even US would bend, but Russia would have to offer gifts, not threats, to make the deal work. With most others, threats will suffice.
So, the main question still is how bad do russians want to get BTC-E. I think that it won't be answered very soon. Anyway, I'm out of BTC-E, everyone else will do as they wish. The comfortable interface just doesn't outweigh the risk of getting my funds frozen or confiscated. If it turns out to be just weak FUD, then I can return in the future, so I don't see the reason why should I take even a small risk.