How the Middle East crisis could squeeze Cyprus

Tourism, shipping, investment, energy, inflation and household purchasing power in Cyprus are expected to be affected by the turmoil in the Middle East, with the scale of the impact depending on the intensity and duration of the conflict, according to economist Tassos Yiasemides.

Speaking to the Cyprus News Agency (CNA) on Wednesday, Yiasemides said it is possible that energy prices for households and businesses will rise, as electricity generation in Cyprus relies heavily on fossil fuels and imported supplies.