A Cypriot company suspected of supplying equipment for Russian intelligence

A Cypriot company has become the focus of an international investigation related to the supply of high-tech equipment that, according to European media reports, may have been used by Russia for intelligence purposes.

An investigation conducted by a consortium of journalists from France, Germany, the United States, and other countries revealed that a firm registered in Cyprus was involved in the procurement of underwater systems and components for a program called “Harmony” — a secret project used to monitor underwater activity in the Arctic and protect the Russian fleet.

Through a network of intermediaries and shell companies, the company allegedly purchased hydroacoustic sensors, underwater robots, and fiber-optic cables from Western manufacturers. These technologies are classified as dual-use equipment and may have been supplied in circumvention of sanctions. The total value of the contracts is estimated at tens of millions of euros, with deliveries taking place between 2013 and 2024.

According to the investigation, the scheme made it possible to conceal the end recipient — Russian defense entities. The Cypriot firm acted as a “front company” through which purchases were carried out in the EU and other countries.

Official Cypriot authorities have not yet issued statements on the matter. However, sources in the Ministry of Energy and Commerce said that the issue is under review and may be referred to law enforcement if violations of dual-use goods export regulations are confirmed.

Experts note that this case once again highlights Cyprus’s role as a key hub for international financial and logistics operations, including those related to sanctions evasion. The incident also raises questions about the need to strengthen export controls over sensitive technologies and improve transparency in the island’s corporate registries.