ENERGY: EU adopts sanctions strategy targeting Turkey over Cyprus drilling

1671 views
1 min read

Brussels has launched a system for imposing EU sanctions on Turkey over its unauthorized gas drilling in Cyprus waters, but no Turkish companies or officials have yet been singled out.


EU foreign ministers adopted a mechanism Monday making it possible "to sanction individuals or entities responsible for, or involved in, unauthorized drilling activities of hydrocarbons."

EU member states, like Cyprus, can now come forward with names of those they think should be listed.

The sanctions would involve travel bans and asset freezes on people and "entities" like companies or organisations. EU citizens and firms would be banned from providing them funds.

The adoption of targeted sanctions follows a political decision taken at the level of EU Foreign Ministers on 14 October after Turkey refused to withdraw its vessels from Cyprus territorial waters.