The EU prepares sanctions against Turkey for offshore drilling in Cyprus

On Monday, the EU Foreign Affairs Council determined the framework conditions for restrictive measures in response to Turkey’s unauthorized drilling operations in the Eastern Mediterranean. It is reported by Interfax-Ukraine.

“The framework will allow sanctions to be imposed on individuals or organizations responsible for or involved in unauthorized hydrocarbon drilling activities in the Eastern Mediterranean”,  the EU Council communiqué circulated in Brussels says.

It states that the sanctions will include a ban on travel to the EU for individuals and a freeze on banking assets for individuals and legal entities.

The document explains that under these sanctions, individuals or legal entities responsible for drilling operations related to the exploration and production of hydrocarbons that were not authorized by Cyprus within its territorial waters, exclusive economic zone or continental shelf may be introduced.

In addition, restrictive measures may be imposed on individuals or legal entities that provide financial, technical or material support to relevant drilling operations, as well as on individuals or legal entities associated with them.

It was previously reported that Turkey continued drilling in the waters of Cyprus, despite the EU sanctions. The Ministry emphasized that Turkey plans to intensify its gas production activities.

Tags: gas, contracts, hydrocarbon production, tariffs, court, legislation, EU, gas imports, gas production, gas transit, drilling, Gas processing plant, sanctions, foreign affairs

Read also

German gas shortage may prevent exports to Europe
France says it can do without Russian supplies
749 settlements de-energized due to hostilities