Dialogos

Cyprus: No Immediate Measures Planned Amidst Energy Price Volatility

Published March 10, 2026, 17:01
Cyprus: No Immediate Measures Planned Amidst Energy Price Volatility

Finance Minister Makis Keravnos and Commissioner for Economy Valdis Dombrovskis stated that it is too early to discuss measures to address the impact of the war in Iran on the economy, as the situation remains highly unstable. The discussion took place during the Economic and Financial Affairs Council (ECOFIN) in Brussels. Mr. Keravnos thanked Greece, France, Italy, Spain, and the Netherlands for their immediate support to Cyprus. He emphasized that the impact of the war in Iran begins with the increase in oil prices, which could lead to inflationary pressures and investment instability. Commissioner Dombrovskis noted that oil prices have risen by 40% and natural gas prices by 90% compared to the pre-war period, highlighting the volatile situation.