diff --git a/compiler/src/dotty/tools/dotc/transform/init/CheckGlobal.scala b/compiler/src/dotty/tools/dotc/transform/init/CheckGlobal.scala
new file mode 100644
index 000000000000..11a88b5d348c
--- /dev/null
+++ b/compiler/src/dotty/tools/dotc/transform/init/CheckGlobal.scala
@@ -0,0 +1,170 @@
+package dotty.tools.dotc
+package transform
+package init
+
+import core._
+import Flags._
+import Contexts._
+import Types._
+import Symbols._
+import Decorators._
+import printing.SyntaxHighlighting
+import reporting.trace
+import config.Printers.init
+
+import ast.tpd._
+
+import scala.collection.mutable
+
+
+/** Check that static objects can be initialized without cycles
+ *
+ *  For the check to be fast, the algorithm uses coarse approximation.
+ *  We construct a dependency graph as follows:
+ *
+ *  - if a static object `O` is used in another class/static-object `B`,
+ *    then O -> B
+ *  - if a class `C` is instantiated in a another class/static-object `B`,
+ *    then C -> B
+ *  - if a static-object/class `A` extends another class `B`,
+ *    then A -> B
+ *
+ *  Given the graph above, we check if there exists cycles.
+ *
+ *  This check does not need to care about objects in libraries, as separate
+ *  compilation ensures that there cannot be cyles between two separately
+ *  compiled projects.
+ */
+class CheckGlobal {
+  case class Dependency(sym: Symbol, source: Tree)
+
+  /** Checking state */
+  case class State(visited: mutable.Set[Symbol], path: Vector[Tree], obj: Symbol) {
+    def cyclicPath(using Context): String = if (path.isEmpty) "" else " Cyclic path:\n" + {
+      var indentCount = 0
+      var last: String = ""
+      val sb = new StringBuilder
+      path.foreach { tree =>
+        indentCount += 1
+        val pos = tree.sourcePos
+        val prefix = s"${ " " * indentCount }-> "
+        val line =
+          if pos.source.exists then
+            val loc = "[ " + pos.source.file.name + ":" + (pos.line + 1) + " ]"
+            val code = SyntaxHighlighting.highlight(pos.lineContent.trim)
+            i"$code\t$loc"
+          else
+            tree.show
+
+        if (last != line)  sb.append(prefix + line + "\n")
+
+        last = line
+      }
+      sb.toString
+    }
+  }
+
+  case class Error(state: State) {
+    def issue(using Context): Unit =
+      report.warning("Cylic object dependencies detected." + state.cyclicPath, state.obj.defTree.srcPos)
+  }
+
+  /** Summary of dependencies */
+  private val summaryCache = mutable.Map.empty[Symbol, List[Dependency]]
+
+  def check(obj: Symbol)(using Context): Unit = trace("checking " + obj.show, init) {
+    checkDependencies(obj, State(visited = mutable.Set.empty, path = Vector.empty, obj)) match
+    case Some(err) => err.issue
+    case _ =>
+  }
+
+  private def check(sym: Symbol, state: State)(using Context): Option[Error] = trace("checking " + sym.show, init) {
+    if sym == state.obj then
+      Some(Error(state))
+    else if state.visited.contains(sym) then
+      None
+    else
+      state.visited += sym
+      checkDependencies(sym, state)
+  }
+
+  private def checkDependencies(sym: Symbol, state: State)(using Context): Option[Error] = trace("checking dependencies of " + sym.show, init) {
+    val cls = if sym.is(Module) then sym.moduleClass.asClass else sym.asClass
+    val deps = analyze(cls)
+    Util.traceIndented("dependencies of " + sym.show + " = " + deps.map(_.sym.show).mkString(","), init)
+    var res: Option[Error] = None
+    // TODO: stop early
+    deps.foreach { dep =>
+      if res.isEmpty then
+        val state2: State = state.copy(path = state.path :+ dep.source)
+        res = check(dep.sym, state2)
+    }
+    res
+  }
+
+  private def analyze(cls: ClassSymbol)(using Context): List[Dependency] =
+    def isStaticObjectRef(sym: Symbol) =
+      sym.isTerm && !sym.is(Package) && sym.is(Module)
+      && sym.isStatic && sym.moduleClass != cls
+
+    if (cls.defTree.isEmpty) Nil
+    else if (summaryCache.contains(cls)) summaryCache(cls)
+    else {
+      val cdef = cls.defTree.asInstanceOf[TypeDef]
+      val tpl = cdef.rhs.asInstanceOf[Template]
+
+      // ignore separately compiled classes
+      if !tpl.unforced.isInstanceOf[List[_]] then return Nil
+
+      var dependencies: List[Dependency] = Nil
+      val traverser = new TreeTraverser {
+        override def traverse(tree: Tree)(using Context): Unit =
+          tree match {
+            case tree: RefTree if isStaticObjectRef(tree.symbol) =>
+              dependencies = Dependency(tree.symbol, tree) :: dependencies
+
+            case tdef: TypeDef =>
+              // don't go into nested classes
+
+            case tree: New =>
+              dependencies = Dependency(tree.tpe.classSymbol, tree) :: dependencies
+
+            case _ =>
+              traverseChildren(tree)
+          }
+      }
+
+      def typeRefOf(tp: Type): TypeRef = tp.dealias.typeConstructor match {
+        case tref: TypeRef => tref
+        case hklambda: HKTypeLambda => typeRefOf(hklambda.resType)
+      }
+
+      def addStaticOuterDep(tp: Type, source: Tree): Unit =
+        tp match
+        case NoPrefix =>
+        case tmref: TermRef  =>
+          if isStaticObjectRef(tmref.symbol) then
+            dependencies = Dependency(tmref.symbol, source) :: dependencies
+        case ThisType(tref) =>
+          val obj = tref.symbol.sourceModule
+          if isStaticObjectRef(obj) then
+            dependencies = Dependency(obj, source) :: dependencies
+        case _ =>
+          throw new Exception("unexpected type: " + tp)
+
+      // TODO: the traverser might create duplicate entries for parents
+      tpl.parents.foreach { tree =>
+        val tp = tree.tpe
+        val tref = typeRefOf(tp)
+        dependencies = Dependency(tp.classSymbol, tree) :: dependencies
+        addStaticOuterDep(tref.prefix, tree)
+      }
+
+      traverser.traverse(tpl)
+      summaryCache(cls) = dependencies
+      dependencies
+    }
+
+  def debugCache(using Context) =
+    summaryCache.map(_.show + " -> " + _.map(_.sym.show).mkString(",")).mkString("\n")
+}
\ No newline at end of file
diff --git a/compiler/src/dotty/tools/dotc/transform/init/Checker.scala b/compiler/src/dotty/tools/dotc/transform/init/Checker.scala
index c7607827f639..43cc94ed60da 100644
--- a/compiler/src/dotty/tools/dotc/transform/init/Checker.scala
+++ b/compiler/src/dotty/tools/dotc/transform/init/Checker.scala
@@ -26,6 +26,8 @@ class Checker extends MiniPhase {
   // cache of class summary
   private val baseEnv = Env(null)
 
+  val globalChecker = new CheckGlobal
+
   override val runsAfter = Set(Pickler.name)
 
   override def isEnabled(using Context): Boolean =
@@ -58,6 +60,10 @@ class Checker extends MiniPhase {
       )
 
       Checking.checkClassBody(tree)
+
+      // check cycles of object dependencies
+      if cls.is(Flags.Module) && cls.isStatic  then
+        globalChecker.check(cls.sourceModule)
     }
 
     tree
diff --git a/compiler/src/dotty/tools/dotc/transform/init/Checking.scala b/compiler/src/dotty/tools/dotc/transform/init/Checking.scala
index e47c3b08d264..8e3cc2d4af5c 100644
--- a/compiler/src/dotty/tools/dotc/transform/init/Checking.scala
+++ b/compiler/src/dotty/tools/dotc/transform/init/Checking.scala
@@ -39,7 +39,18 @@ object Checking {
     safePromoted: mutable.Set[Potential],      // Potentials that can be safely promoted
     env: Env
   ) {
-    def withOwner(sym: Symbol): State = copy(env = env.withOwner(sym))
+    def withOwner[T](sym: Symbol)(op: State ?=> T): T =
+      val state = this.copy(env = env.withOwner(sym))
+      val res = op(using state)
+      this.visited = state.visited
+      res
+
+
+    def withStep[T](step: Tree)(op: State ?=> T): T =
+      val state: State = this.copy(path = path :+ step)
+      val res = op(using state)
+      this.visited = state.visited
+      res
 
     def test(op: State ?=> Errors): Errors = {
       val savedVisited = visited
@@ -60,11 +71,12 @@ object Checking {
       }
       else {
         state.visited = state.visited + eff
-        val state2: State = state.copy(path = state.path :+ eff.source)
-        eff match {
-          case eff: Promote      => Checking.checkPromote(eff)(using state2)
-          case eff: FieldAccess  => Checking.checkFieldAccess(eff)(using state2)
-          case eff: MethodCall   => Checking.checkMethodCall(eff)(using state2)
+        state.withStep(eff.source) {
+          eff match {
+            case eff: Promote      => Checking.checkPromote(eff)
+            case eff: FieldAccess  => Checking.checkFieldAccess(eff)
+            case eff: MethodCall   => Checking.checkMethodCall(eff)
+          }
         }
       }
     }
@@ -118,11 +130,11 @@ object Checking {
     def checkConstructor(ctor: Symbol, tp: Type, source: Tree)(using state: State): Unit = traceOp("checking " + ctor.show, init) {
       val cls = ctor.owner
       val classDef = cls.defTree
-      if (!classDef.isEmpty) {
-        given State = state.withOwner(cls)
-        if (ctor.isPrimaryConstructor) checkClassBody(classDef.asInstanceOf[TypeDef])
-        else checkSecondaryConstructor(ctor)
-      }
+      if (!classDef.isEmpty)
+        state.withOwner(cls) {
+          if (ctor.isPrimaryConstructor) checkClassBody(classDef.asInstanceOf[TypeDef])
+          else checkSecondaryConstructor(ctor)
+        }
     }
 
     def checkSecondaryConstructor(ctor: Symbol)(using state: State): Unit = traceOp("checking " + ctor.show, init) {
diff --git a/tests/init/neg/i9176.scala b/tests/init/neg/i9176.scala
new file mode 100644
index 000000000000..c70e87d1872a
--- /dev/null
+++ b/tests/init/neg/i9176.scala
@@ -0,0 +1,9 @@
+class Foo(val opposite: Foo)
+case object A extends Foo(B)     // error
+case object B extends Foo(A)     // error
+object Test {
+  def main(args: Array[String]): Unit = {
+    println(A.opposite)
+    println(B.opposite)
+  }
+}
\ No newline at end of file
diff --git a/tests/init/neg/t5366.scala b/tests/init/neg/t5366.scala
new file mode 100644
index 000000000000..0d2fe6e9c384
--- /dev/null
+++ b/tests/init/neg/t5366.scala
@@ -0,0 +1,15 @@
+class IdAndMsg(val id: Int,  val msg: String = "")
+
+case object ObjA extends IdAndMsg(1)     // error
+case object ObjB extends IdAndMsg(2)     // error
+
+object IdAndMsg {                        // error
+  val values = List(ObjA , ObjB)
+}
+
+object Test {
+  def main(args: Array[String]): Unit = {
+    ObjA
+    println(IdAndMsg.values)
+  }
+}
\ No newline at end of file
diff --git a/tests/init/neg/t9115.scala b/tests/init/neg/t9115.scala
new file mode 100644
index 000000000000..fe204e64c998
--- /dev/null
+++ b/tests/init/neg/t9115.scala
@@ -0,0 +1,8 @@
+object D {                                                              // error
+  def aaa = 1 //that’s the reason
+  class Z (depends: Any)
+  case object D1 extends Z(aaa) // 'null' when calling D.D1 first time  // error
+  case object D2 extends Z(aaa) // 'null' when calling D.D2 first time  // error
+  println(D1)
+  println(D2)
+}
\ No newline at end of file
diff --git a/tests/init/neg/t9261.scala b/tests/init/neg/t9261.scala
new file mode 100644
index 000000000000..378dad51b3a6
--- /dev/null
+++ b/tests/init/neg/t9261.scala
@@ -0,0 +1,3 @@
+sealed abstract class OrderType(val reverse: OrderType)
+case object Buy extends OrderType(Sell)       // error
+case object Sell extends OrderType(Buy)       // error
diff --git a/tests/init/neg/t9312.scala b/tests/init/neg/t9312.scala
new file mode 100644
index 000000000000..fb3d53c81eb9
--- /dev/null
+++ b/tests/init/neg/t9312.scala
@@ -0,0 +1,23 @@
+object DeadLockTest {
+  def main(args: Array[String]): Unit = {
+    def run(block: => Unit): Unit =
+      new Thread(new Runnable {def run(): Unit = block}).start()
+
+    run {println(Parent.Child1)}
+    run {println(Parent.Child2)}
+
+  }
+
+  object Parent {    // error
+    trait Child {
+      Thread.sleep(2000) // ensure concurrent behavior
+      val parent = Parent
+      def siblings = parent.children - this
+    }
+
+    object Child1 extends Child     // error
+    object Child2 extends Child     // error
+
+    final val children = Set(Child1, Child2)  // error
+  }
+}