Cyprus plans to cut red tape during its EU Council presidency

According to the draft government program, Cyprus will "prioritize" efforts to reduce bureaucracy during its upcoming presidency of the EU Council, UNN reports with reference to Euractiv.

Details

The Cypriot government stated that it would build on the "significant work" of Poland and Denmark – the former and current presidencies – seeking to "foster a more business-friendly environment," thereby "enhancing the EU's competitiveness and resilience," the document says.

The Council presidency rotates among EU member states every six months. Cyprus will take over from Denmark on January 1, 2026, with Ireland following on July 1 of the same year.

Importantly, these simplification efforts are not aimed at deregulation, but rather at ensuring greater efficiency, proportionality, and easier application of rules.

Cyprus will also seek to achieve "rapid progress" in integrating EU capital markets and completing the bloc's Banking Union. It will also focus on "decluttering" EU tax rules, including by continuing work on revising the Tobacco Products Taxation Directive.

A spokesperson for the Permanent Representation of Cyprus stated that the version is the result of "very early" discussions at a "lower technical level." According to them, the final draft will only be presented in mid-December.

Addition

Cyprus introduces criminal liability for circumventing sanctions against Russia. Now, providing economic resources to sanctioned individuals will be considered a crime in Cyprus. For Russians with a Cypriot passport, this may include accounts in sanctioned Russian banks, working in companies on the EU sanctions list, and providing services to businesses with Russian participation.