Turkey Continues To Defy EU And Cyprus

Turkey Continues To Defy EU And Cyprus

As Turkey is ramping up its illegal drilling activities off the coast of Cyprus, the European Union might decide to suspend most high-level contract with the country. It also will cut the flow of funds in protest of this latest unfolding situation.

This is amongst the latest proposal the EU government envoys will be discussing in Brussels and could limit the European Investment Bank’s sovereign backed lending in Turkey while confirming a 146 million euro (163 million dollar) cut in aid for next year. Per a close source to the matter.

The other options proposed might include suspending ministerial and leader’s meetings, including ongoing talks between the two side on an aviation agreement. The bloc’s foreign policy service would also advise member states to refrain from engaging in high-level contracts with Turkey

The battle between Turkey and Cyprus over offshore gas reserves in the eastern part of the Mediterranean have been in an ongoing situation. Cypriots are claiming right to the gas while Ankara is fighting to take some of the gas away from Cyprus. Turkey as illegally sent exploration vessels in the area which is in violation of the Cyprus sovereignty.

EU leaders have sided with Cyprus over the dispute, declaring in June they are ready to consider stiffer sanctions if Turkey continues to drill illegally in those waters. Such sanction could target companies, individuals, and Turkey’s deep-sea hydrocarbon exploration and production sectors, though they aren’t currently on the menu of the commission’s proposals, according to the official.

If ambassadors agree on the measures, then they could be triggered by EU foreign ministers when they meet in Brussels.