Cyprus to Return 67 Million Euros to the EU Due to Irregularities
September 24, 2025
The European Union has requested the Republic of Cyprus to return 67 million euros due to irregularities in the awarding of the Vasilikos terminal to a Chinese consortium. CINEA has rejected the Cypriot government's arguments and confirmed that the consortium did not meet the required criteria. The government's plans now face significant financial consequences, with associated projects costing over 250 million euros. The Republic of Cyprus has until November 2025 to repay the funds. Important construction works remain to be completed, further increasing total expenses.