Temporary Suspension of Payments to Nexans Due to Geopolitical Issues
March 6, 2025
The grid operator has suspended payments to Nexans for the construction of a cable connecting Cyprus to Crete due to geopolitical obstacles delaying research efforts. Ongoing delays from the Greek Foreign Ministry have created uncertainty regarding the project. This decision reportedly has the backing of the Ministry of Environment and Energy to avoid a work stoppage. However, the future of the payments and Nexans' reactions remain uncertain.