Cyprus Business Now: climate, shipping, Invest Cyprus, CySEC, Keravnos

Cyprus is entering a phase of full energy transition, with the government prioritising independence from imported fossil fuels as the “only realistic option” for economic stability, Energy Minister Michalis Damianos said on Wednesday.

In his address at the 16th Nicosia Economic Congress, Damianos identified energy security as a top priority for the Republic in response to dramatic geopolitical developments in the Middle East, which he said have caused the largest disruption in the history of the oil market.