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Cyprus: European prosecutors are investigating the east Med cable project

Cyprus's President said that European prosecutors are looking into possible criminal offenses relating to an EU-funded project worth 1.9 billion euros ($2.12 billion), which aims to build a submarine electric cable connecting Europe with the eastern Mediterranean.

The Great Sea Interconnector Cable is being built by the Greek power grid operator IPTO to connect European and Cypriot transmission systems and to later extend to Israel via the Mediterranean Sea.

Nicosia is seeking clarifications about the project's cost, viability, and liabilities. In March, Greece reaffirmed their commitment to the project following reports that it had been stopped due to financial and geopolitical issues.

Nikos Christodoulides, the Cypriot president, told reporters that he was informed late Wednesday night that the European Public Prosecutor's Office opened an investigation into "possible crimes in relation to this specific project" following complaints.

Christodoulides, when asked who the investigation was targeting, said: "It doesn't refer to anyone in particular."

The EPPO didn't immediately respond to a comment request. IPTO Athens declined to comment.

Project promoters claim that the 1,240 km cable will be the "world's longest", and it will also be the deepest, at 3,000 meters. (Reporting by Michele Kambas, Additional reporting by Angeliki Koutantou, Editing by Jan Harvey).

(source: Reuters)