EU Threatens Turkey With Sanctions Over Cyprus Drilling: Draft

The European Union is preparing to restrict contacts and funding for Ankara as retaliation for what they’re calling Turkey’s “illegal” drilling for gas and oil off of Cyprus. The EU is standing ready to increase the sanctions if needed, according to a draft statement.

Excerpt:

“In light of Turkey’s continued and new illegal drilling activities, the (EU) decides to suspend negotiations on the Comprehensive Air Transport Agreement and agrees not to hold further meetings of the high-level dialogues for the time being.”

“The Council endorses the (European) Commission’s proposal to reduce the pre-accession assistance to Turkey for 2020 and invites the European Investment Bank to review its lending activities in Turkey, notably with regard to sovereign-backed lending,” it said.

It added that the EU would be ready to introduce more restrictive measures against Turkey should Ankara continue drilling.

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Source: EU Threatens Turkey With Sanctions Over Cyprus Drilling: Draft | Reuters

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