Breaking news

Micro-Wineries In Cyprus Aim To Revive The World’s Oldest Named Wine

Commandaria, praised by ancient Greek poets nearly 3,000 years ago, holds the title of the world’s oldest recorded and named wine. Once celebrated by royalty and historical figures, this Cypriot sweet wine has struggled to maintain its global presence despite its deep-rooted heritage.

A Rich History Of Recognition

The wine’s legendary status is deeply intertwined with European history. It is believed to have won the world’s first recorded wine competition in the 13th century under French King Philippe Augustus and was famously served at the wedding of English King Richard the Lionheart in Cyprus in 1191. The medieval Knights Hospitaller, who established their headquarters on the island during the Third Crusade, played a key role in its production and named it after their estate, the Grande Commanderie. Later, the Orthodox Church adopted the wine for religious ceremonies, further cementing its cultural significance.

Commandaria reached its production peak under Venetian rule in the 15th and 16th centuries, valued for its distinctive sweetness and complex bouquet. 

Challenges In The Modern Market

Despite its historical significance, Commandaria has faced difficulties in securing a place in the international market. Production reached around 200,000 bottles in recent years but saw a decline, partly due to the loss of Russian tourism, a key consumer base. Additionally, an attempt to enter the vast Chinese market faltered due to supply limitations.

Unique Characteristics And Production

Commandaria owes its distinctive taste to Cyprus’ volcanic soil, which enriches the grapes with notes of honey, raisin, walnut, fig, carob, cinnamon, coffee, and caramel. It is made from indigenous Mavro and Xynisteri grapes, which are sun-dried for up to 12 days to concentrate their sweetness. Strict European regulations mandate a minimum aging period of two years in oak barrels, and authentic Commandaria can only be produced in 14 designated villages on the southern slopes of the Troodos mountains.

The Role Of Micro-Wineries

Small, quality-focused wineries have begun to breathe new life into Commandaria. Unlike large-scale producers, these boutique operations prioritise craftsmanship over volume. Some wineries are experimenting with bespoke varieties, catering to evolving consumer preferences, and have gained a loyal domestic and international following.

A Slow But Steady Comeback

While global sales remain modest, domestic interest in Commandaria is growing. Some wineries have reported an increase in demand, with visitors returning to Cyprus specifically to replenish their stock. Experts believe that a sustained focus on quality and a well-coordinated marketing effort could position Commandaria for a stronger global presence.

To ensure long-term success, producers are focusing on refining quality and strengthening their foothold in the domestic market before making a collective push internationally. With its unparalleled history, unique production methods, and renewed dedication from small-scale winemakers, Commandaria may yet reclaim its place among the world’s most distinguished wines.

SEC Drops Lawsuit Against Gemini: A Major Turning Point In Crypto Regulation

SEC Dismisses Legal Action Against Gemini

The Securities and Exchange Commission has formally withdrawn its lawsuit against Gemini, the prominent crypto exchange founded by twins Cameron and Tyler Winklevoss. The move follows a joint court filing in which both the regulator and Gemini sought dismissal of the case that centered on the collapse of the Gemini Earn investment product, a debacle that left investors without access to their funds for 18 months.

Settlement And Regulatory Reassessment

In a significant development, a 2024 settlement between New York and Gemini ensured that investors recovered one hundred percent of their crypto assets loaned through the Gemini Earn program. The legal reprieve comes on the heels of actions initiated by New York Attorney General Letitia James, who accused Gemini of defrauding investors.

Political Backdrop And Industry Implications

This dismissal reinforces a broader trend of regulatory leniency toward the crypto sector noted during the Trump administration, which saw the SEC dismiss, pause, or reduce penalties in more than 60 percent of its pending crypto lawsuits. Meanwhile, Gemini’s recent public offering filing underscores its ambitions to solidify its status as a major player in the evolving digital asset market.

eCredo
Aretilaw firm
Uol
The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter