When the Strait of Hormuz effectively closed in late February 2026, the ripple effects were immediate: crude oil prices surged by over 50%, natural gas spiked by around 85%, and fertiliser costs climbed to roughly 61% above 2024 averages. In response, on 29 April 2026, the European Commission introduced a new tool – the Middle East Crisis Temporary State Aid Framework (“METSAF”) – enabling Member States to provide targeted support to the sectors hit the hardest. This newsletter unpacks what METSAF covers, how it works and what it means for affected businesses.Which sectors are covered?Unlike its recent predecessors – the COVID-19 and Ukraine Temporary Frameworks – METSAF takes a sector-specific approach, reflecting the Commission’s targeted response to an unfolding crisis rather than full-...

In January 2026, the European Commission published its revision of the Cybersecurity Act, known as Cybersecurity Act 2 (CSA2). This is not merely a technical update: the proposal introduces a horizontal security mechanism for the Information and Communications Technology (ICT) supply chain, radically shifting the focus from technical vulnerability assessments to a geopolitical understanding of risk. The goal: to incorporate “technological sovereignty” into European cybersecurity law.For the first time, the EU is introducing a horizontal mechanism through which the Commission can designate third countries as “posing cybersecurity concerns” and compile lists of “high-risk suppliers”, with immediate consequences of exclusion from markets, certifications, and public procurement contracts. And ...

Zepos & Yannopoulos advised Cepal Hellas and the selling entities on the successful transfer of portfolios of receivables arising from loans subject to law 3869/2010 (the Katseli Law on over-indebted households) of a total legal claim of approximately €460 million, as well as on the assignment of the portfolio servicing to Cepal Hellas.The transaction involved the simultaneous transfer of sub-portfolios from three separate HAPS securitisation SPVs, requiring careful coordination to ensure alignment of execution mechanics and documentation across multiple parallel workstreams. This marks one of the very first transactions to address the recent Greek Supreme Court decision concerning the calculation of interest on restructured loans under law 3869/2010.Our team was led by Paris Tzoumas, ...

This year marks 25 years of Zepos & Yannopoulos' membership In Lex Mundi, the world’s leading network of independent law firms, and our role as its exclusive member firm for Greece.Over the past quarter century, our international outlook has remained central to who we are. Through our collaboration with Lex Mundi firms across jurisdictions, we have supported international clients with legal and tax matters in Greece, combining deep local knowledge with the reach and perspective of a trusted global network.Twenty-five years on, the value of close, cross-border collaboration feels more relevant than ever. We are grateful to our Lex Mundi colleagues around the world for their partnership, trust and friendship, and we look forward to continuing this journey together in the years ahead....