Sanctions due to drilling in the waters of Cyprus may be applied to Turkey

On Thursday, EU representatives will discuss the decision in Brussels, and foreign ministers will be able to approve it on Monday, Business Censor reports.

The European Union will suspend high-level negotiations with Ankara and discussion of an agreement on air transportation, as well as freeze Turkey’s financing next year in connection with illegal drilling off the coast of Cyprus.

"In the light of the ongoing and new illegal drilling in Turkey, (the EU) decides to suspend negotiations about the agreement on air transportation and not yet hold further meetings in the framework of the high-level dialogue”, the draft statement says.

They also said that they approve the proposal of the European Commission to reduce assistance in preparation for Turkey’s accession to the EU in 2020. The European Investment Bank is also invited to review its lending activities in the country.

The EU declared its readiness to impose additional restrictions on Turkey if it continues drilling.

On July 8, the European Union External Action Service issued a statement by EU High Representative Federica Mogherini, where Turkey’s intention to launch a new drilling operation north-east of Cyprus is illegal. Concern is also expressed about further unacceptable escalation that violates the sovereignty of Cyprus.

 

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Tags: gas, contracts, hydrocarbon production, court, legislation, EU, The European Commission, energy market, gas production, drilling

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