Our Scans · Cyprus · Weekly Summary

• [New] Cyprus is preparing a sweeping tax overhaul that will broaden the tax base, toughen enforcement and ease the burden on households and businesses. IFC Review
• The potential ratification threatens to: Further isolate Greece and Cyprus, who view the MoU as a breach of international law; complicate EU-backed gas exploration in the Eastern Mediterranean and deepen divisions between regional powers backing opposing Libyan factions. Greek City Times
• Judging by the fact that Kazakhstan, Uzbekistan, Kyrgyzstan and Turkmenistan choose Greek Cypriots, it is simply pointless to expect Cyprus, Greece and other EU countries to recognize the independence of the TRNC. EADaily
• There is a risk that Azerbaijan decided to take part in the Cyprus conflict at a time when there is no consolidation inside Turkey. EADaily
• Turkey has already built forward base capabilities in places such as northern Cyprus and Qatar, and expanding its military presence in Syria will create what some have termed Turkey's full moon, a would-be regional threat after the weakening of the Iranian-led Shiite crescent. Atlantic Council
• On the longstanding issue of Cyprus, Fidan will reaffirm Turkey's support for the Turkish Republic of Northern Cyprus, stressing a shared responsibility of the OTS to stand in solidarity with the Turkish Cypriots, who have been subjected to unjust and inhumane isolation for decades. Daily Sabah
• Greek power grid operator IPTO is building the Great Sea Interconnector cable, which will link Europe's transmission networks to Cyprus in a €1.9 billion project and later stretch to Israel through the Mediterranean Sea. GreekReporter.com
• Cross-Border Estates: If the deceased was not domiciled in Cyprus but held assets in Cypriot bank accounts or local crypto exchanges, the EU Succession Regulation could direct that the law of another member state or a third state might apply. Chambers & Co
• We also anticipate a wave of multi-tcf gas developments will move forward - in the Eastern Mediterranean, Chevron could sanction Leviathan Phase 2 (Israel) and Aphrodite (Cyprus), while Eni may take FID at Cronos (Cyprus). Offshore Engineer Magazine
• Geophysical and climate-related hazards: Geophysical and climate-related hazards are exacerbating disaster risks and threatening sustainable development in Armenia, Georgia, Cyprus, and Azerbaijan. New Spotlight Magazine
• More than 20 companies and organizations from Cyprus and abroad will present in a specially designed space a wide range of defence systems, many of which will be presented for the first time in Cyprus. Sigmalive English
• The EU's Eastern countries are expected to experience the most pronounced decline, with Latvia's and Lithuania's populations shrinking by nearly 1%, while the highest population growth is expected in Malta, Ireland, Luxembourg, Cyprus and Sweden, with average annual growth rates above 0.5%. The Joint Research Centre: EU Science Hub
• While all country groups face projected declines in natural populations at group level, a few countries - including Ireland, Sweden, Luxembourg and Cyprus - are still projected to experience natural population growth. Bruegel | The Brussels-based economic think tank
• Cyprus is expected to oppose closer EU-Turkey ties due to longstanding political and territorial disputes involving Northern Cyprus, which Turkey recognizes. The SAIS Review of International Affairs -
• The European Union announced on Thursday an aid package for Lebanon of 1 billion euros - $1.06 billion - much of which will go to strengthening border control to halt the flow of asylum seekers and migrants from the small, crisis-wracked country across the Mediterranean Sea to Cyprus and Italy. Counter Extremism Project
• Greek power grid operator IPTO is building the Great Sea Interconnector cable, which will link transmission networks of Europe to Cyprus in a project costing 1.9 billion euros ($2.12 billion), and later stretch to Israel through the Mediterranean Sea. Sigmalive English
• In the longer term, more resources could be found in deeper drilling in the north-east, and in offshore exploration, continuing successful geological trends from Cyprus and Israel. Energy Connects
• Under CDU, Germany may take advantage of the fact that relatively small countries will now be presiding over EU; first Denmark, then Cyprus, Ireland and Lithuania. Forbes
• Other countries, including Cyprus, Finland, France, Greece, Italy, Portugal, Romania and Spain, projected faster growth than the EU's methodological projections. Bruegel | The Brussels-based economic think tank
• In Europe, Cyprus Capital markets (the second fastest GDP growing in EU), would see launch of new products, providing opportunities in securities services and fund accounting. Global Custodian
• Geopolitical tensions related to Turkey and Georgia's special partnership status present hurdles, especially given long-standing disputes with Cyprus and Greece that could obstruct closer EU-Turkey ties, despite the strategic advantages for the EU's CSDP in the Mediterranean and Black Sea. The SAIS Review of International Affairs -
• Cyprus proved useful for Israel, which earned it direct threats from the late H. Nasrallah, but also from Turkey, which warned Greece and Cyprus against their involvement in the Middle East conflict. Fondation Mediterraneenne d'Etudes Strategiques

Last updated: 26 June 2025