Defence Ministry to take part in EUROSATORY 2026 Exhibition in Paris

The Ministry of Defence will participate in the EUROSATORY 2026 International Defence and Security Exhibition, which will take place in Paris from June 15 to 19, 2026.

The Ministry announced on Friday its official participation with a national pavilion as part of its strategy to strengthen the extroversion and international presence of the Cypriot defence industry, with the national pavilion hosting Cypriot companies active in the defence and security sectors.

‘The presence of the Cypriot defence industry at EUROSATORY 2026 is proof of its commitment to strengthening regional and European security, to deepening international defence cooperation, and to leveraging technology as a means of strengthening national and collective defence capabilities,’ the statement notes.

According to the Ministry, at the pavilion, visitors will have the opportunity to learn about the operational and technological capabilities of Cypriot companies in the defence and security sector, the added value Cyprus offers at the regional and European levels, and the Ministry of Defence’s participation in European and international defence cooperation programs.

EUROSATORY 2026, as the leading international exhibition of defence equipment and security technologies, offers a high-level forum for strengthening transnational cooperation, promoting innovative solutions, and exchanging know-how among government agencies, industrial partners, and strategic allies, the statement concludes.

CSE Chairman and Kazakhstan Ambassador discuss cooperation of stock markets

The prospects of cooperation and investment opportunities were discussed at a meeting on Thursday between Chairman of the Cyprus Stock Exchange Marinos Christodoulides and Ambassador of the Republic of Kazakhstan to Cyprus, Nikolay Zhumakanov.

During the meeting that took place in the CSE premises, “the two sides exchanged views on the prospects for cooperation between the stock markets of Cyprus and Kazakhstan, as well as on broader investment opportunities that may develop within the framework of the strategic relationship between the two countries,” the Cyprus Stock Exchange said in a press release on Friday.

The meeting, it added, took place in the framework of efforts to strengthen bilateral economic and investment ties between Cyprus and Kazakhstan, which were highlighted during the recent visit of President Nikos Christodoulides, to Kazakhstan.

Both sides expressed their interest in further deepening their cooperation, the press release continues.

They also agreed to hold further meetings with the aim of exploring specific actions and initiatives.

The CSE expresses its commitment to actively participate in the development of international collaborations that highlight Cyprus as a reliable investment gateway between Europe and Asia.

Cyprus’ number of pension funds the third largest in Eurozone, despite 30% drop

Cyprus remains third largest country in the eurozone by number of pension funds, despite a 30% decline, over the past five years, data published by the Central Bank of Cyprus on Friday show.

CBC has issued for the first time the Pension fund statistics for 2025. The statistical release provides an overview of the main developments in the assets and liabilities of pension funds resident in Cyprus and useful information on the number of pension funds, as well as their members.

According to the report, there were fewer than 600 pension funds in Cyprus, down by more than 30% following the implementation of the Law on Occupational Retirement Provision.

However, the country remains the euro area’s third-largest by number of pension funds, behind Ireland and Spain, and ranks at the lower end in terms of average assets per fund (less than pound 10 million) among the euro-area countries, indicating a persistently fragmented sector.

CBC noted that the pension landscape is dominated by defined contribution schemes, as opposed to defined benefit schemes, which account for over 80% of pension funds, reflecting lower costs and reduced risk for employers.

The investment composition of pension funds remains focused on traditional asset classes, however, there are signs of gradual diversification, which may support higher returns, albeit with increased volatility.

Pension funds in Cyprus exhibit relative resilience, contributing to the sector’s stability and supporting the long-term sustainability of pension benefits. However, approximately 20% of the total value of defined benefit schemes is estimated to be underfunded.

CBC noted that pension entitlements remain significantly higher in defined benefit schemes, reflecting their design to provide predetermined income levels, with risks largely borne by employers.

“As pension entitlements continue to grow, greater emphasis on cost transparency, fee awareness, and financial literacy becomes increasingly important to safeguard retirement outcomes,” CBC highlighted.

Against this backdrop, CBC stressed that the absence of an independent and unified supervisory authority for pensions remains a key institutional gap in Cyprus. “Establishing a single supervisory framework would strengthen confidence in long-term savings, enhance oversight, and support the resilience and sustainability of the pension system amid demographic ageing and evolving market conditions,” CBC concluded.

PRESS RELEASE – EUROPEAN COMMISSION

EU and Brazil deepen ties through Digital Partnership

The European Union and Brazil signed a Digital Partnership in Brasilia today, bringing their digital cooperation to a new strategic level. Building on more than two decades of close collaboration, the partnership will strengthen EU-Brazil cooperation on shared digital priorities, including data governance, artificial intelligence, digital infrastructure and connectivity, online platforms, and digital public goods and services.

Digital Partnerships are a core instrument of the EU’s external digital policy, enabling structured cooperation with like-minded countries on shared priorities.

The agreement was signed by European Commission Executive Vice-President for Tech Sovereignty, Security and Democracy, Henna Virkkunen, and Brazil’s Secretary for Trade Promotion, Science, Technology, Innovation and Culture, Alex Giacomelli da Silva.

Following the signing of the Digital Partnership, an administrative agreement was signed by the Commission’s services and Brazil’s Agência Nacional de Proteção de Dados, to enhance cooperation on the protection of minors online.

Through this partnership, the EU and Brazil will step up joint efforts to promote efficient and resilient global supply chains and contribute to an inclusive, rules-based system of global digital governance. They will aim to ensure that the benefits of technological progress are more equitably shared globally.

Cooperation between the EU and Brazil

In January 2026, the Commission and Brazil adopted mutual adequacy decisions, confirming that their levels of data protection are comparable. Recognising the high data protection standards that protect consumers and citizens on both sides, these agreements allow businesses, public authorities and researchers to freely and securely exchange data between the EU and Brazil without any additional requirements.

Digital cooperation has long been a central part of the EU-Brazil Strategic Partnership, with the EU-Brazil Digital Dialogue at its core.

Through the Digital Dialogue, the partners have intensified exchanges across key priority areas and worked to promote digital development and inclusion, all while preserving digital sovereignty, democratic principles and human rights.

Next steps

The Digital Partnership will be implemented through regular high-level exchanges and dedicated technical workstreams.

The first meeting of the Digital Partnership Council is expected within the next 12 months. It will provide strategic direction and endorse a joint roadmap for cooperation.

Background

Digital partnerships are a central pillar of the EU’s International Digital Strategy. They support structured cooperation with like-minded countries on shared priorities.

Each partnership is overseen by a Digital Partnership Council, which provides political guidance, monitors progress and sets priorities for future cooperation.

For more information

Thirteenth EU-Brazil Digital Dialogue

Digital Partnerships

Quote(s)

The European Union and Brazil are long-standing strategic partners, united by shared values and a common vision for the digital future. This Digital Partnership marks a decisive step forward in our cooperation, enabling us to deepen collaboration on key digital priorities and shape a human-centric and inclusive digital transformation together.

Henna Virkkunen, Executive Vice-President for Tech Sovereignty, Security and Democracy

(For more information: Thomas Regnier – Tel. + 32 2 299 10 99; Nika Blazevic – Tel. + 32 2 299 27 17)

Commission proposes pound 540 million financial relief and other supports for farmers facing fertiliser crisis

Today, the European Commission presents measures to help farmers facing sharply rising fertiliser costs and to support Europe’s food security, delivering on the recently announced Fertiliser Action Plan. In recent months, geopolitical tensions and supply disruptions have pushed prices of fertilisers up across Europe.

To address this situation, the Commission is proposing two concrete short-term measures. Firstly, the Commission is providing financial relief to help farmers who need to buy fertilisers to guarantee their next crops. In the coming weeks, the Commission aims to mobilise pound 540 million in total. Earlier this week, the Commission proposed to boost the agricultural reserve with an additional pound 300 million from the EU budget 2026 on top of the remaining funds. The Member States will be able to top it up by up to 200% of national funds, bringing the total available financial support to a potential total of pound 1.5 billion.

Secondly, the Commission proposes targeted adjustments to the Common Agricultural Policy (CAP) enabling Member States to provide farmers with faster and more flexible support to access fertilisers. These measures include:

a new liquidity scheme under rural development for crisis support,

the option for Member States to pay direct payments to farmers earlier,

and the possibility for Member States to adjust their direct payment budget for calendar year 2027.

The new liquidity scheme can be co-financed up to 65% from the European Agricultural Fund for Rural Development (EAFRD) and include unused funds that may otherwise be lost. Member States may add national financing of up to 200%. To ensure rapid delivery and minimise administrative burdens, support can be paid as a fixed amount per hectare and implemented through the CAP Strategic Plans.

Regarding advanced direct payments to farmers, Member States will have the possibility to provide them before 16 October with an increased rate of advances, helping them to improve cashflow.

Finally, the proposal will give Member States further flexibility in addressing the impact of the high fertiliser prices, by adjusting their allocations for direct payments for calendar year 2027.

Next steps

The Commission’s proposed targeted CAP legislative amendments will now be sent to the European Parliament and the Council for their approval.

The agricultural reserve proposal with overall financial relief of pound 540 million will be submitted for a vote to Member States in the Committee on the Common Organisation of the Markets, with the corresponding national envelopes specified in the proposal. If agreed by Member States, final adoption is scheduled by the end of July 2026.

The Commission will continue to deliver on the Fertiliser Action Plan to reduce farmers’ exposure to future crises and, through these actions, strengthen EU food security, strategic autonomy and competitiveness.

Background

Fertilisers are essential for agricultural production and represent a significant share of farmers’ costs. In recent months, geopolitical shocks and supply disruptions have driven fertiliser prices up, placing increasing pressure on farmers across Europe. As a result, rising costs may force farmers to use less fertiliser, risking lower quality and yields. If farmers cannot afford the fertilisers they need, this may affect harvests, farm incomes, wider food supply and ultimately also food prices.

On 19 May 2026, the Commission presented the Fertiliser Action Plan to support farmers facing rising fertiliser costs and scarcity, reinforce domestic production and reduce Europe’s dependency on imports. The Plan combines immediate support measures aimed at supporting affordability and security of supply, with longer-term action to strengthen domestic fertiliser production, improve supply resilience and accelerate the transition to bio-based, low-carbon and circular fertilisers.

For more information

Press release – Commission presents plan to secure Europe’s fertiliser supply and food security

Ensuring availability and affordability of fertilisers – Agriculture and rural development

Fertilisers – Agriculture and rural development – European Commission (Fertilisers market Observatory)

Quote(s)

Today, we are delivering on our commitment to support farmers facing soaring fertiliser costs. I can confirm that we have proposed a pound 540 million EU financial support package, which Member States will be able to top up with national funds to mobilise up to pound 1.5 billion in relief for farmers on the ground. This support must reach those who need to buy fertilisers for the next sowing season and secure their future harvests. Our proposals to make CAP support more flexible should also help improve farmers’ cash flow and provide greater financial certainty. I count on the co-legislators to treat them as a matter of urgency so that this support can be delivered without delay. Now is the time to choose our food security, our strategic autonomy and our competitiveness. Europe is standing firmly by the side of its farmers and taking decisive action to safeguard the foundations of our food production.

Christophe Hansen, Commissioner for Agriculture and Food

(For more information: Louise Bogey – Tel.: +32 2 296 97 76; Katerina Horáková – Tel.: +32 2 299 93 10)

Commission approves pound 11.9 million Italian State aid for cheese production

The European Commission has approved, under EU State aid rules, an pound 11.9 million Italian measure to support an investment project in the dairy sector.

The beneficiary of the measure is Zanetti S.p.A., a company active in the production of traditional Italian cheeses with a focus on Protected Designation of Origin cheeses such as Grana Padano and Parmigiano Reggiano. The aid will support the modernisation of Zanetti’s production line and contribute to the economic development of the dairy sector and the area around the facility in the province of Mantua. The investment project will also have a positive environmental impact, because it will lead to lower energy consumption and road transport emissions. The aid will take the form of a direct grant.

The Commission assessed the measure under EU State Aid rules, in particular Article 107(3)(c) of the Treaty on the Functioning of the EU, which allows Member States to support the development of certain economic activities under certain conditions, and the 2023 Guidelines for State aid in the agricultural and forestry sectors and in rural areas. The Commission found that the measure is necessary and appropriate to achieve the objective pursued, while supporting the objectives of the Common Agricultural Policy. Furthermore, the Commission concluded that the measure is proportionate, as it is limited to the minimum necessary, and will have a limited impact on competition and trade in the EU. On this basis, the Commission approved the Italian measure under EU State aid rules.

The non-confidential version of the decision will be made available under the case number SA.122079 in the State aid register on the Commission’s competition website once any confidentiality issues have been resolved.

(For more information: Ricardo Cardoso – Tel.: +32 2 298 01 00; Luuk de Klein – Tel.: +32 2 299 47 74)

Commission clears acquisition of DSM’s Animal Nutrition and Health business by CVC

The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of the Animal Nutrition and Health business of DSM-Firmenich AG (‘DSM’) of Switzerland, by CVC Capital Partners plc (‘CVC’) of Jersey.

The transaction relates primarily to the supply of animal nutrition ingredients.

The Commission concluded that the notified transaction would not raise competition concerns, given the companies’ limited combined market position resulting from the proposed transaction. The notified transaction was examined under the simplified merger review procedure.

More information is available on the Commission’s competition website, in the public case register under the case number M.12382.

(For more information: Ricardo Cardoso – Tel.: +32 2 298 01 00; Paula Clara Ritter-Moschtz – Tel.: +32 2 296 40 83)

President von der Leyen participates in G7 Summit hosted by France

President of the European Commission, Ursula von der Leyen, and President of the European Council, António Costa, will be in Evian from Monday 15 to Wednesday 17 June, to participate in the G7 Summit hosted by France.

On Monday, Presidents von der Leyen and Costa will host a joint press conference in the early afternoon, which you can follow live on EBS. In the evening, they will participate in an informal dinner for G7 Leaders hosted by President of France, Emmanuel Macron.

On Tuesday morning, President von der Leyen will participate in a working session on peace and security for Ukraine and Europe, together with G7 Leaders and President of Ukraine, Volodymyr Zelenskyy. She will then participate in a working session titled ‘Facing crises and guaranteeing stability in the Middle East,’ with G7 Leaders, President of Egypt Abdel Fatah El-Sisi, and leaders of the United Arab Emirates and Qatar.

In the afternoon, the President will take part in a working session on new partnerships and international solidarity. This working session will bring together G7 Leaders, leaders of Brazil, Egypt, India, Kenya and South Korea, President of the World Bank, Ajay Banga, and President of the African Bank for Development, Sidi Ould Tah.

On Wednesday, the leaders will attend a working session on balanced and sustainable economic growth for all with Managing Director of the International Monetary Fund, Kristalina Georgieva, and Secretary-General of the Organisation for Economic Co-operation and Development, Mathias Cormann.

Throughout the Summit, the President will engage with leaders of the participating countries. More information on the Summit is available on the G7 Summit website. Audiovisual material will be available on EBS.

(For more information: Paula Pinho – Tel.: +32 2 292 08 15)

Executive Vice-President Ribera to receive Politecnico di Torino Foresight and Innovation Award

Executive Vice-President for a Clean, Just and Competitive Transition, Teresa Ribera, will be in Turin today to receive the 2026 Politecnico di Torino Foresight and Innovation International (‘PoliTO Foresight and Innovation’) Award. The award recognises individuals who contributed ideas and vision to promote foresight and innovation. The inaugural edition of the award was presented to Mario Draghi in 2025.

In her keynote address, Executive Vice-President Ribera will share her views on these challenges and on Europe’s long-term transformation and highlight how innovation, clean technologies and artificial intelligence can strengthen Europe’s competitiveness while supporting decarbonisation, energy security and social cohesion. She will also reflect on the role of research, innovation and technological leadership in building a more resilient and sovereign Europe, in line with the Commission’s efforts to advance the Clean Industrial Deal, accelerate electrification and strengthen Europe’s long-term economic security. The award also reflects the ongoing work of the European Commission in fostering innovation as a driver of sustainable prosperity, competitiveness and climate neutrality.

More information about the PoliTO Foresight and Innovation award is available on PoliTO’s website. You can also follow the Award Ceremony live online.

(For more information: Ricardo Cardoso – Tel.: +32 2 298 01 00; Luuk de Klein – Tel.: +32 2 299 47 74)

Commissioner Roswall participates in high-level dialogue on PFAS-related pollution challenges

On Monday, 15 June, Commissioner for Environment, Water Resilience and a Competitive Circular Economy, Jessika Roswall, will hold in a high-level dialogue with stakeholders to gather feedback on solutions to the challenges related to PFAS pollution in the EU. Announced in the Chemicals Industry Action Plan, the dialogue will bring together over 20 participants from NGOs, affected communities, researchers, water and waste treatment operators, PFAS producers and users, and users of alternatives to PFAS.

During the dialogue, participants will exchange on practical impacts of PFAS pollution and challenges in addressing it. Commissioner Roswall will also explore with participants what can be improved at EU level to speed up both pollution clean-up and the transition away from PFAS. Finally, participants will discuss what stakeholders could do to transition away from PFAS and tackle existing pollution, and the business opportunities that it could create.

Minimising PFAS emissions is a key priority for this Commission. After the adoption of the final opinion of its Committee for Socio-Economic Analysis, the European Chemicals Agency will submit opinions from the Risk Assessment and Socio-Economic Analysis Committees to the Commission. The Commission will then prepare the restriction proposal on this basis and submit it to the REACH Committee. In parallel, the Commission is also developing an EU-wide PFAS monitoring framework, to centralise information, identify pollution hotspots, highlight successful remediation practices and collect data from relevant legislation.

Commissioner for Environment, Water Resilience and a Competitive Circular Economy, Jessika Roswall, said: ‘PFAS pollution is an immense challenge that needs to be addressed collectively. We need to protect our environment, the health of current and future generations but we also need to incentivise innovation and provide our businesses with regulatory clarity.’

Migration Pact result of collective effort to manage issue, says Deputy Minister

Deputy Minister of Migration and International Protection Dr. Nicholas A. Ioannides has said on Friday that the effective management of migration presupposes shared responsibilities, mutual trust and genuine solidarity among member states. He was addressing the opening of the Informal Ministerial Conference on the Pact of Migration and Asylum held in Nicosia, under the Cyprus Presidency of the European Council.

He told participants that the start of the meeting that it takes place at a particularly significant juncture as today marks the entry into force of the European Pact and Asylum, a major milestone for the EU and for the collective effort to manage migration.

‘Today marks the culmination of a long and demanding joint journey in recent years through intensive consultations and often difficult negotiations, member states and European institutions worked with dedication to shape a new more comprehensive and more resilient European framework for managing migration and asylum’, said Dr. Ioannides.

Noting ‘the pact is a result of this collective effort’, he said it ‘reflects our shared determination to address an issue that no country can effectively manage on its own. It is a concrete confirmation that the EU can find common ground and develop common solutions, even on the most complex and sensitive issues. The significance of the pact goes beyond its legislative concept. It reflects our conviction that the effective management of migration presupposes shared responsibilities, mutual trust and genuine solidarity among member states’.

The Deputy Minister emphasized that ‘its success will depend on the consistency with which we will implement the commitment we have made and our ability to continue working in a spirit of cooperation and unity.’

Dr. Ioannides further said that today is not the end of the process. ‘On the contrary, a new path opens before us, of joint action and shared responsibility. The implementation of the pact marks the opening of a new chapter for European Migration Policy, a chapter we are called upon to write together with solidarity, determination and a shared vision for the future of Europe.’

To celebrate this important milestone, participants watched a short video made in the context of the implementation of the pact.

NPL ratio unchanged at 1.6% in March 2026, Central Bank data show

Non-Performing Loans (NPL) Ratio, including loans and advances to Central Banks and Credit Institutions, remained unchanged at 1.6% in March 2026, compared with end of December 2025, according to the updated aggregate Cyprus banking sector data, published on Friday by the Central Bank of Cyprus.

According to the data, total NPLs at the end of March amounted to pound 835 million in a total of pound 51.3 billion. In comparison, on December 2025 NPLs were also pound 835 million, in a total of pound 52.1 billion.

In households, NPL Ratio stood at 4.4%. In non-financial corporations at 2.4% and in SMEs it rose to 3.6%.

?he coverage ratio of NPLs with provisions increased to 62.7% at the end of March 2026, compared with 62.3% at the end of December 2025.

Total restructured loans at the end of March 2026 amounted to pound 777 million, of which loans of pound 320 million continue to be classified as NPLs.

Sheep and goat farm in Mammari tests positive for FMD

A positive case for foot-and-mouth disease has been identified at a livestock farm within the infected zone in Mammari, the Veterinary Services announced on Wednesday evening.

According to the update, the case concerns a sheep and goat farm in Mammari, in the Nicosia district, with approximately 80 adult animals.

‘The Veterinary Services are following the prescribed procedures for the swift culling of the animals’, the statement issued to the media said.

Cyprus Presidency presents revised MFF Negotiating Box in Brussels

The Cyprus Presidency will present its revised negotiating package, also known as ‘Nego-Box’, for the next Multiannual Financial Framework (MFF) for the 2028-2034 period on Thursday afternoon in Brussels. The package is expected to include an overall reduction of around 2%, equivalent to approximately pound 32.8 billion in current prices. The proposal will be presented by Deputy Minister for European Affairs Marilena Raouna.

The objective is to put forward a mature and credible package capable of gaining the trust of Member States and generating the necessary momentum to reach an agreement by the end of 2026.

The proposal seeks to strike a balance between widely differing positions, ranging from the ‘frugal’ Member States calling for substantial cuts to the ‘Friends of Cohesion’ group advocating the preservation or even an increase of the EU budget.

Reductions are expected to be distributed across all budget headings, but neither horizontally nor equally. This approach aims to preserve the overall balance of the package while maintaining the proposed architecture of the future EU budget, sources told CNA.

Cyprus’ banks excess liquidity down by pound 1.1 billion in 2025, according to CBC

Cyprus’ banks excess liquidity dropped in to pound 17.4 billion as at end-2025, down from pound 18.5 billion in 2024, according to data published by the Central Bank of Cyprus on Thursday, in the Monetary Policy implementation report for 2025.

According to the executive summary of the report, the CBC’s balance sheet remained broadly stable in 2025, with total assets increasing marginally from pound 28.6 billion at end-2024 to pound 28.7 billion at end-2025.

Assets continued to consist primarily of Intra-Eurosystem claims in TARGET and monetary-policy portfolios. Assets associated with the implementation of monetary policy comprise the monetary policy portfolios, which declined from pound 6.5 billion to pound 5.7 billion during 2025, as well as refinancing operations to Cypriot monetary policy counterparties, which remained unused over the period under review.

On the liabilities side, bank deposits/liquidity declined from pound 19.2 billion to pound 18.6 billion over the same period.

According to the report, structurally, liquidity developments were driven mainly by movements in Intra-Eurosystem claims, autonomous factors, and the reduction in the value of monetary-policy portfolios, which fell by pound 0.77 billion in 2025. Despite this decline, overall liquidity in the banking system remained ample throughout the year.

In 2025, the ECB Governing Council implemented a series of reductions in the deposit facility rate, lowering it from 3% at the end of 2024 to 2% by June 2025. These adjustments were carried out through four successive rate cuts (in February, March, April, and June of 2025) in line with the Governing Council’s assessment that a more accommodative monetary-policy stance was required as inflationary pressures eased and financing conditions normalised.

The successive reductions in the deposit facility rate during 2025 reduced the facility’s attractiveness for banks to place their excess liquidity (pound 17.4 billion as at end-2025, down from pound 18.5 billion in 2024) with the CBC. Consequently, banks increasingly turned to alternative investment options, including bond holdings and lending.

According to the report, within the banking sector, the most significant asset categories in 2025 were loans, debt securities, deposits and cash equivalents.

Loans rose from pound 27.6 billion at end-2024 to pound 31.7 billion at end-2025, while deposits and cash equivalents declined from pound 20.4 billion to pound 19.8 billion.

Total banking-sector liabilities increased from pound 59.4 billion to pound 63.1 billion over 2025, driven mainly by higher deposits from households and non-financial corporations.

The minimum required reserves of the monetary-policy-eligible counterparties in Cyprus increased from pound 527 million at the end of the final maintenance period of 2024 to pound 553 million at the end of the corresponding period in 2025.

Mobilised collateral placed with the CBC in 2025 consisted primarily of additional credit claims, covered bonds, and government bonds.

President welcomes decision of Committee of Deputy Ministers of CoE on Turkey

President of the Republic, Nikos Christodoulides, has welcomed the decision of the Committee of Ministers of the Council of Europe regarding the property aspect of the displaced in Cyprus, due to the Turkish invasion of the island in 1974.

“I welcome with satisfaction today’s decision of the Committee of Deputy Ministers of the Council of Europe, which was taken in the context of examining the implementation of the European Court of Human Right’s decision in the case of the Fourth Interstate Application of the Republic of Cyprus against Turkey, regarding the aspect related to the property of the displaced,” the President said in a post on ‘X’.

Our foreign policy, he stressed, “among many other things, upgrades the international status of the Republic of Cyprus, strengthens our great effort and contributes decisively to our negotiating power on the Cyprus issue.”

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively.