Cyprus coordinating with Malta and Greece on new EU sanctions says President

President Nikos Christodoulides said that Cyprus was coordinating closely with Greece and Malta within the European Council to mitigate any potential adverse effects on member states, from a new round of EU sanctions against Russia.

Replying to a journalist’s question on how concerned the government was about the new possible EU sanctions that may affect shipping companies, President Christodoulides pointed out that Cyprus adheres faithfully to EU sanctions. However, he expressed reservations regarding the effectiveness of such measures when not universally applied.

"We unfortunately have third countries connected to the EU that do not implement these sanctions and, consequently, they are not effective," President Christodoulides said.

Furthermore, he said that Cyprus was coordinating closely with Greece and Malta within the European Council to mitigate any potential adverse effects. "I'm not saying there won't be any," he cautioned, "but our current effort is focused on making decisions that do not negatively impact EU member states."

Moody's upgrade a significant development

Asked about the upgrade of the Cypriot economy's outlook from stable to positive by Moody's Rating, the President said it was a significant development. He expressed the view that it recognises the government's approach to its overall economic policy, summarised in responsible fiscal policy, a robust financial system, and continuous and bold reforms.

"Within this framework, we will continue, precisely to have a strong economy that will allow us - because this is the main goal - to have a targeted social policy for all our fellow citizens whom we should help," he said.

He added that a strong economy would also enable policies in the areas of health and education, which are priorities for the government.

State not blackmailed, says President regarding delay in strategic projects

The President also sent a message to companies responsible for implementing strategic projects in Cyprus that fail to meet their obligations. He noted that "the state is not blackmailed" and will not just stand by as an observer.

Asked about the project for the port and marina of Larnaca and an announcement by the contractor blaming the government, the President stated that he was generally concerned about the way such large projects are assigned.

He added that what interests the government was not just to assign projects, but for those undertaking them to be able to implement them.

"Within this framework, I want to say, for all major projects, firstly that the state is not blackmailed and secondly that the obligations undertaken must be fulfilled. If companies are unable to fulfill the commitments they have undertaken, we will not simply observe them while time passes," he said.

He further commented that there is a need to generally review the allocation process for such strategic projects.

(Source: CNA)