Akel MP seeks info on politicians’ ties to EuroAsia Interconnector

Akel MP Irini Charalambidou has requested information from the government regarding possible financial ties between politicians and EuroAsia Interconnector Ltd, the former promoters of the mooted subsea electricity cable project, it emerged on Thursday.

According to news outlet Sigma, in her letter to the finance ministry Charalambidou seeks information as to whether “any financial contracts have been identified between politicians or Politically Exposed Persons, be they Cypriot or Greek nationals, for services rendered or other types of transactions, and Euroasia Interconnector”.

EuroAsia Interconnector Ltd, a Cypriot company, dropped out of the interconnector project in October 2023. Greece’s Independent Power Transmission Operator (Admie) then took over as the project promoter.

In her missive, the Akel MP is also said to ask the finance minister for the monetary amounts involved in the contracts, assuming such contracts have been tracked.

Reporting on this, Sigma claimed that authorities here are in fact ‘investigating’ politicians and Politically Exposed Persons with potential links to EuroAsia Interconnector Ltd and who may have had financial transactions with the company.

Sigma said authorities are looking at three former ministers. The news outlet named them as former foreign minister Ioannis Kasoulides, former transport minister Marios Demetriades, and former justice minister Ionas Nicolaou.

Kasoulides served as foreign minister from February 2013 to March 1, 2018, and then from January 2022 to February 28, 2023.

He joined the EuroAsia Interconnector as Chairman of the Strategic Council on March 30, 2018.

Demetriades was transport minister from March 2014 to March 1, 2018. He joined EuroAsia Interconnector Plc, a private company based in London, as a director in December 2018. According to a filing, he resigned from the company on December 1, 2020.

Founded in 2016, Euroasia Interconnector Plc engages in the transmission of electricity. It is not to be confused with EuroAsia Interconnector Ltd, the Cypriot company. However, Nasos Ktorides, CEO of the Cypriot company, was also a director on the London-based outfit.

Ionas Nicolaou served as justice minister from March 2013 to May 31, 2019.

The EuroAsia Interconnector project is now known as the Great Sea Interconnector.