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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 is being built by the Greek grid operator IPTO to connect European and Cypriot transmission systems and extend it to Israel.

Nicosia is seeking clarifications about the project's cost and viability. 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.

The Greek operator assumed control of the project in 2023 and replaced a project manager based in Cyprus.

Piotr serafin, EU commissioner for budgetary matters and anti-fraud in Cyprus, declined to comment on the EPPO's independent nature, on Thursday. He claimed that he had not heard of any concerns raised by his office about the project.

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)