The post Israeli Air Defense Probably Won’t Spark Another Cyprus Missile Crisis appeared on BitcoinEthereumNews.com. A Barak ER (extended range) missile during a March 2021 trial in Israel. Photo by IAI. Israel Aerospace Industries (IAI) Despite taking delivery of its new Barak MX air defense missile systems from Israel discreetly, quite literally under the cover of night, the Republic of Cyprus has nevertheless received warnings from Turkey. The acquisition is the most significant Nicosia has received since ordering S-300 missile systems from Russia in January 1997, which triggered a tense crisis with Turkey. Despite some parallels with that historical episode, Cyprus’s latest acquisition is less likely to see that history repeat itself. After footage emerged of a Barak MX system being transported at night on the streets of Cyprus’s Limassol, Turkish defense officials and politicians voiced strong criticism. Officials from the Turkish defense ministry claimed it could destabilize the partitioned island, where Turkey has approximately 35,000 troops garrisoned in the separatist, internationally unrecognized Turkish Republic of North Cyprus, and have “dangerous consequences.” Others directly referenced the 1997-1998 crisis. For example, Yanki Bagcioglu, deputy chairman of the Republican People’s Party, charged that the Barak MX represents “a more dangerous system than the S-300, and it is likely that it also has the capability to share data with Israel through an advanced surveillance system.” Turkish analyst Arda Mevlutoglu echoed Bagcioglu, dubbing the new Cypriot system “much more dangerous than the S-300” since it can detect launches of mortars and rockets from 100 kilometers (62 miles) away. The Israeli system has an official range of 93 miles and can intercept a range of threats from drones to tactical ballistic missiles. The range is comparable to the S-300 PMU-1 Cyprus ordered in 1997. Back then, Turkish officials dismissed Nicosia’s stance that the missiles were purely defensive since their range theoretically enabled Cyprus to fire missiles into Turkish airspace. During… The post Israeli Air Defense Probably Won’t Spark Another Cyprus Missile Crisis appeared on BitcoinEthereumNews.com. A Barak ER (extended range) missile during a March 2021 trial in Israel. Photo by IAI. Israel Aerospace Industries (IAI) Despite taking delivery of its new Barak MX air defense missile systems from Israel discreetly, quite literally under the cover of night, the Republic of Cyprus has nevertheless received warnings from Turkey. The acquisition is the most significant Nicosia has received since ordering S-300 missile systems from Russia in January 1997, which triggered a tense crisis with Turkey. Despite some parallels with that historical episode, Cyprus’s latest acquisition is less likely to see that history repeat itself. After footage emerged of a Barak MX system being transported at night on the streets of Cyprus’s Limassol, Turkish defense officials and politicians voiced strong criticism. Officials from the Turkish defense ministry claimed it could destabilize the partitioned island, where Turkey has approximately 35,000 troops garrisoned in the separatist, internationally unrecognized Turkish Republic of North Cyprus, and have “dangerous consequences.” Others directly referenced the 1997-1998 crisis. For example, Yanki Bagcioglu, deputy chairman of the Republican People’s Party, charged that the Barak MX represents “a more dangerous system than the S-300, and it is likely that it also has the capability to share data with Israel through an advanced surveillance system.” Turkish analyst Arda Mevlutoglu echoed Bagcioglu, dubbing the new Cypriot system “much more dangerous than the S-300” since it can detect launches of mortars and rockets from 100 kilometers (62 miles) away. The Israeli system has an official range of 93 miles and can intercept a range of threats from drones to tactical ballistic missiles. The range is comparable to the S-300 PMU-1 Cyprus ordered in 1997. Back then, Turkish officials dismissed Nicosia’s stance that the missiles were purely defensive since their range theoretically enabled Cyprus to fire missiles into Turkish airspace. During…

Israeli Air Defense Probably Won’t Spark Another Cyprus Missile Crisis

2025/09/20 23:57

A Barak ER (extended range) missile during a March 2021 trial in Israel. Photo by IAI.

Israel Aerospace Industries (IAI)

Despite taking delivery of its new Barak MX air defense missile systems from Israel discreetly, quite literally under the cover of night, the Republic of Cyprus has nevertheless received warnings from Turkey. The acquisition is the most significant Nicosia has received since ordering S-300 missile systems from Russia in January 1997, which triggered a tense crisis with Turkey. Despite some parallels with that historical episode, Cyprus’s latest acquisition is less likely to see that history repeat itself.

After footage emerged of a Barak MX system being transported at night on the streets of Cyprus’s Limassol, Turkish defense officials and politicians voiced strong criticism. Officials from the Turkish defense ministry claimed it could destabilize the partitioned island, where Turkey has approximately 35,000 troops garrisoned in the separatist, internationally unrecognized Turkish Republic of North Cyprus, and have “dangerous consequences.”

Others directly referenced the 1997-1998 crisis. For example, Yanki Bagcioglu, deputy chairman of the Republican People’s Party, charged that the Barak MX represents “a more dangerous system than the S-300, and it is likely that it also has the capability to share data with Israel through an advanced surveillance system.”

Turkish analyst Arda Mevlutoglu echoed Bagcioglu, dubbing the new Cypriot system “much more dangerous than the S-300” since it can detect launches of mortars and rockets from 100 kilometers (62 miles) away. The Israeli system has an official range of 93 miles and can intercept a range of threats from drones to tactical ballistic missiles. The range is comparable to the S-300 PMU-1 Cyprus ordered in 1997. Back then, Turkish officials dismissed Nicosia’s stance that the missiles were purely defensive since their range theoretically enabled Cyprus to fire missiles into Turkish airspace.

During that crisis, Turkey threatened to destroy the missiles when they reached the island and flexed its military muscles in the TRNC. Ultimately, by December 1998, Nicosia agreed to a compromise, and the systems were diverted to the Greek island of Crete, where they remain to the present day.

An S-300 PMU-1 anti-aircraft missile launches during a Greek army military exercise near Chania on the island of Crete on December 13, 2013. Greece is the first NATO country to try the Russian long-range missile system. AFP PHOTO / Costas Metaxakis (Photo credit should read Costas Metaxakis/AFP via Getty Images)

AFP via Getty Images

In early 1999, Turkey loudly objected to Greece receiving the missiles, charging that they endangered NATO aircraft and could serve as a Trojan horse for Russian espionage and intelligence-gathering in that sensitive and strategic region. Similar issues were raised by NATO and the United States when they warned Turkey against proceeding with its contentious acquisition of more advanced Russian S-400 in the late 2010s. The Turkish Defense Ministry has officially denied a report that Russia wants to buy back those S-400s, affirming that they remain “in our inventory, and there is no change in our position.”

Averting a potential second S-300 standoff between it and Turkey, Greece put the missiles into storage on Crete for over a decade, only using them for training in 2013. Greece permitted Israel’s air force to train against them, likely learning valuable lessons it put to use against Iran’s newer S-300s in airstrikes in April and October 2024 and the 12-day war in June 2025. Greece has repeatedly refused to supply the S-300s to Ukraine, stressing it still needs them for its defense. Athens eventually seeks to replace them with Barak MX systems. The more modern Israeli systems seem quite popular with countries seeking replacements for their older S-300s. Aside from Greece, Slovakia, which earlier donated its Soviet-inherited S-300 to Ukraine, is also acquiring the Barak MX for its air defenses. Cyprus, having given up on acquiring S-300s, undoubtedly views its current acquisition as a significant upgrade over its existing air defenses, which consist of older, short-range Russian Tor and Buk systems.

One crucial difference between that 1990s crisis and the republic’s present acquisition, which already began last December, is that the missiles have already arrived on Cypriot soil. Unless Ankara wants to preemptively destroy them before they are introduced into service, which seems highly unlikely, then the Eastern Mediterranean probably won’t witness a second Cypriot missile crisis, or at least not one of comparable intensity.

Cypriot Defense Minister Vasilis Palmas also contrasted this delivery with the 1990s crisis. “Today we chose the path of silence, low tones, and ultimately because we chose this method and this path, I can declare to you with full responsibility that we have the capabilities to defend the Republic of Cyprus anti-aircraft and anti-missile, if and when this is needed,” he said, adding that everybody “hopes that there will not be such crises and such situations in the Republic of Cyprus or in our territory.”

It’s worth mentioning that Cyprus is not the only regional country undertaking a significant buildup of its armed forces—which, hitherto, were primarily supplied with military hardware by Russia and France—and enhancement of its air defense. As mentioned above, Greece is also interested in the Barak MX and is building an integrated Achilles Shield air defense system with input from Israel and the acquisition of advanced Israeli systems. No doubt, these upgrades with Israeli hardware will make Greek and Cypriot air defenses more compatible than ever.

Turkey is also investing heavily in developing and building a national, integrated air defense called Steel Dome. However, unlike its Greek and Cypriot rivals, it is doing so primarily with its indigenous systems, most notably the Siper, rather than importing Israeli systems or jointly developing air defenses—as Israel did with India for the Barak.

These rival Greece-Turkey air defense efforts will no doubt see the deployment of systems capable of firing significant distances into each other’s respective airspace. In this broader context, while the Barak MX will immensely improve the island’s air defense, Cyprus’s acquisition isn’t likely to alter the fundamental balance of military power in the Eastern Mediterranean.

Furthermore, unlike Cyprus and Greece, Turkey has invested significantly in developing ballistic missiles, which President Recep Tayyip Erdogan once boasted could hit Athens.

So, while tensions in this area may well flare up, they are not likely to revolve around Cyprus’s recent air defense acquisition, which, again, unlike the S-300 predecessor, is now a done deal.

Source: https://www.forbes.com/sites/pauliddon/2025/09/20/israeli-air-defense-probably-wont-spark-another-cyprus-missile-crisis/

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Share Insights

You May Also Like

Bitcoin Holds Price Range Despite Drop to $108K as Whale Rotation Keep Traders Cautious

Bitcoin Holds Price Range Despite Drop to $108K as Whale Rotation Keep Traders Cautious

Your daily access to the backroom
Share
Blockhead2025/11/03 15:03
NZD/USD is likely to trade with a downward bias – UOB Group

NZD/USD is likely to trade with a downward bias – UOB Group

The post NZD/USD is likely to trade with a downward bias – UOB Group appeared on BitcoinEthereumNews.com. New Zealand Dollar (NZD) is likely to consolidate in a range of 0.5870/0.5920. In the longer run, slight increase in downward momentum suggests NZD is likely to trade with a downward bias, potentially testing 0.5850, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. Slight increase in downward momentum 24-HOUR VIEW: “In the early Asian session yesterday, when NZD was at 0.5935, we highlighted the following: ‘While NZD subsequently rose and reached a high of 0.6007, it dropped sharply from the high and continued to decline in the early Asian session today. The decline could test the support at 0.5910 before stabilising. The major support at 0.5880 is unlikely to come into view.’ We did not anticipate the rapid downward acceleration, as NZD plummeted to a low of 0.5873. The sharp drop appears excessive, but it is too soon to expect a recovery. Today, we expect NZD to consolidate, most likely in a range of 0.5870/0.5920.” 1-3 WEEKS VIEW: “After holding a positive NZD outlook for more than a week, we stated yesterday (18 Sep, spot at 0.5935) that ‘the outlook for NZD is no longer positive, but neutral.’ We also indicated that ‘for the time being, we expect NZD to trade in a range between 0.5880 and 0.5980.’ We did not expect the subsequent sharp drop in NZD which dropped below 0.5880 (low was 0.5873). Downward momentum is increasing, but not significantly. From here, NZD is likely to trade with a downward bias, potentially testing the 0.5850 level. On the upside, if NZD breaks above 0.5945, it would indicate that the current downward pressure has eased.” Source: https://www.fxstreet.com/news/nzd-usd-is-likely-to-trade-with-a-downward-bias-uob-group-202509191132
Share
BitcoinEthereumNews2025/09/20 00:22
Series A funding, Series B retirement: A crash course in wealth for crypto founders

Series A funding, Series B retirement: A crash course in wealth for crypto founders

Source: Fortune Original title: Crypto founders are getting very rich, very fast—again Compiled and edited by: BitpushNews In the startup world, we are used to stories where founders work hard for years and eventually become millionaires when their companies go public or are acquired. Such wealth stories are also playing out in the cryptocurrency field, only this path to riches is often much shorter. A prime example is Bam Azizi. He founded the crypto payments company Mesh in 2020, and this year completed an $82 million Series B funding round. Normally, this kind of financing should all be invested in the company's development, but this time at least $20 million went directly into Azizi's personal pocket. This money comes from "secondary sales"—investors buying shares from founders or other early participants. This means that while the funding amount looks impressive, the actual amount reaching the company's account may be significantly less. However, for founders, they don't need to wait years; they can achieve financial freedom in the blink of an eye. This isn't necessarily a bad thing. A Mesh spokesperson pointed out that the company's partnership with PayPal and the launch of its AI wallet are progressing well. However, the problem is that in the current bull market, founders are cashing out early through secondary sales, making a fortune before the company has truly proven its value. Luxury mansion worth tens of millions Azizi is not an isolated case. In this bull market that began last year, Bitcoin has soared from $45,000 to $125,000, creating countless wealth myths. In mid-2024, the crypto social platform Farcaster completed a $150 million Series A funding round, with at least $15 million used to acquire shares held by founder Dan Romero. This former Coinbase employee has never hidden his wealth. In an interview with Architectural Digest, he showed in detail his $7.3 million mansion on Venice Beach, a four-building estate that the magazine called an "Italian-style garden." Although the renovation was a success, Farcaster's development has not been smooth sailing. According to reports, the platform currently has fewer than 5,000 daily active users, far behind competitors such as Zora. Romero has not responded to this. Omer Goldberg also benefited. Of the $55 million Series A funding round his security company Chaos Labs raised this year, $15 million went to him personally. This company, backed by PayPal Ventures, has become a significant voice in the blockchain security field, but has also remained silent about the deal. Why are venture capitalists willing to pay? According to industry insiders, secondary sales are becoming increasingly common in the current hot cryptocurrency market and popular sectors such as AI. Top venture capital firms like Paradigm and Andreessen Horowitz often agree to acquire shares from founders to secure lead funding for high-quality projects. For investors, this is essentially a gamble. The common equity they acquire offers limited returns, far less than preferred stock in conventional financing. But in an industry accustomed to making grand promises, whether it's appropriate to be so generous in rewarding founders who haven't yet succeeded is certainly debatable. Veteran cryptocurrency observers will be familiar with this scenario. During the ICO craze of 2016, countless projects easily raised hundreds of millions of dollars by issuing tokens. They promised to revolutionize blockchain technology and surpass Ethereum, but most have since disappeared. At the time, investors tried to use "governance tokens" to constrain the founders, but one venture capitalist admitted, "They're called governance tokens, but they don't actually govern anything." By the time the new bull market arrived in 2021, financing models began to resemble the traditional Silicon Valley model, but the phenomenon of founders cashing out in advance still existed. In a $555 million funding round, executives at payment company MoonPay cashed out $150 million. The market was beginning to cool down when the media reported that the CEO had spent $40 million to buy a luxury mansion in Miami. OpenSea, a once-star project, followed a similar path, with its founding team cashing out a significant portion of their funding. However, as the NFT craze faded, the company is now forced to seek a transformation. You are building a faith community. Why don't venture capitalists stick to a more traditional incentive model—allowing founders to meet their basic financial needs in Series B or C rounds, but only allowing them to receive huge returns once the company truly succeeds? Veteran trading lawyer Derek Colla pointed out the key: most cryptocurrency companies are "asset-light" and do not require the huge capital investment that is required in the chip industry, so this capital naturally flows to the founders. He further explained, "This industry is extremely reliant on influence marketing; there are far too many people willing to throw money at founders. Essentially, you're building a belief community." Secondary market expert Glen Anderson put it more bluntly: "In hype cycles like AI and cryptocurrency, you can easily cash out as long as you tell a good story." However, he emphasized that founders cashing out does not mean they have lost faith in the project. Colla, the lawyer, believes that massive cash-outs do not diminish a founder's enthusiasm. He cites MoonPay as an example: although the founder faced criticism over the mansion incident, the company's business continued to thrive. Farcaster's failure was not due to the founder's lack of effort; "he worked harder than most people." However, he also acknowledged that truly great entrepreneurs choose to hold shares for the long term because they believe these shares will multiply in value when the company goes public. "Great founders never want to sell on the secondary market," Colla concluded. In this industry brimming with both opportunities and bubbles, wealth comes and goes quickly. As a new wave of wealth creation sweeps in, perhaps we should consider: what kind of incentives can truly nurture great companies?
Share
PANews2025/11/03 15:00