Edition: International | Greek
MENU

Home » World

EU takes step closer to Turkey drilling sanctions

The EU on Monday (11 November) moved a step closer to imposing sanctions over Turkey’s drilling for oil and gas off Cyprus by formally adopting a legal framework to target those involved

By: EBR - Posted: Tuesday, November 12, 2019

The EU has repeatedly warned Turkey to stop exploratory drilling activities in what Cyprus says are its territorial waters, to no avail, and last month EU foreign ministers asked officials to create a sanctions framework.
The EU has repeatedly warned Turkey to stop exploratory drilling activities in what Cyprus says are its territorial waters, to no avail, and last month EU foreign ministers asked officials to create a sanctions framework.

The discovery of hydrocarbon reserves in the eastern Mediterranean has sparked a dispute between EU member Cyprus and Turkey, which occupies the north of the Mediterranean island.

The EU has repeatedly warned Turkey to stop exploratory drilling activities in what Cyprus says are its territorial waters, to no avail, and last month EU foreign ministers asked officials to create a sanctions framework.

Now the ministers meeting in Brussels have approved the framework — effectively a blank list — which is needed to impose travel bans and asset freezes on individuals and companies involved in the operations.

The Council of the EU, which groups the 28 member states, said sanctions could target “persons or entities responsible for drilling activities”, “persons or entities providing financial, technical or material support” or “persons associated with them”.

The next stage is for names of people or entities to be added to the list, but this process can take some time as legal checks have to be run to ensure any listing would stand up if challenged in court.

EU diplomats have so far not given a timeframe for when the first listings could be made.

The Turkish foreign ministry later on Monday issued a defiant message, insisting that Turkey would not stop its activities despite the EU’s move.

“It is futile to expect Turkey to take a step back from its rights in the eastern Mediterranean,” the ministry said in a statement.

“In this respect, no one should doubt that we will continue our search and drilling activities in the eastern Mediterranean in the same manner,” it added.

The ministry said Turkey and the Ankara-backed northern Cyprus statelet had shown “good-natured effort” with “constructive and positive initiatives” for the hydrocarbon reserves to become a matter that “created stability rather than tension”.

*first published in: www.euractiv.com

READ ALSO

EU Actually

Does Vestager overplay her hand again?

N. Peter KramerBy: N. Peter Kramer

The EU General Court overturned the landmark 2016 decision by EU competition commissioner Margrethe Vestager that Ireland should claw back €13 billion in unpaid taxes plus interest from Apple

View 01/2020 2020 Digital edition

Magazine

Current Issue

01/2020 2020

View past issues
Subscribe
Advertise
Digital edition

Europe

Autumn challenges ahead as COVID rates rise amid European travel season

Autumn challenges ahead as COVID rates rise amid European travel season

Several European countries are experiencing a surge in coronavirus cases as holidaymakers set out to enjoy the last month of summer but experts are more concerned about a potential increase in COVID-19 infections in autumn

Business

COVID-19 has disrupted cybersecurity, too – here’s how businesses can decrease their risk

COVID-19 has disrupted cybersecurity, too – here’s how businesses can decrease their risk

COVID-19 is changing everything. Along with social distancing, obsessive sanitisation, broken supply chains, fragmented workforces and the rise of video meetings, the pandemic is driving acute systemic changes in consumer and business behavior

MARKET INDICES

Powered by Investing.com
All contents © Copyright EMG Strategic Consulting Ltd. 1997-2020. All Rights Reserved   |   Home Page  |   Disclaimer  |   Website by Theratron