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EU prolongs sanctions for Türkiye’s East Med hydrocarbon search

November 9, 2022
in Markets & Economy
0
EU prolongs sanctions for Türkiye’s East Med hydrocarbon search

BY DAILY SABAH

The European Council on Tuesday adopted a decision to extend the “sanctions regime” over what it calls Türkiye’s “unauthorized drilling activities,” in the Eastern Mediterranean for a further year until Nov. 12, 2023.

It said in a statement that the decision was taken following the review of the framework of restrictive measures in response to the country’s activities.

“The European Union will therefore maintain its ability to impose targeted restrictive measures on persons or entities responsible for or involved in unauthorized drilling activities of hydrocarbons in the Eastern Mediterranean,” it said.

The sanctions consist of a travel ban to the EU and an asset freeze for persons and entities. In addition, EU persons and entities are forbidden from making funds available to those listed.

Currently, two individuals – Turkish Petroleum (TPAO) Board Member and Deputy General Manager Mehmet Ferruh Akalın and TPAO Exploration Department Deputy Director Ali Coşkun Namoğlu – are subject to sanctions as they are responsible for “planning, managing and implementing hydrocarbon exploration activities in the Eastern Mediterranean.”

The decision will enter into force on the day following its publication in the Official Journal of the EU.

Türkiye, which has the longest continental coastline in the Eastern Mediterranean, has rejected maritime boundary claims made by Greece and the Greek Cypriot administration. It stressed several times that the excessive claims by Greece and the Greek Cypriots violate the sovereign rights of both Türkiye and Turkish Cyprus.

Ankara has sent several drillships to the area that falls under its continental shelf to explore for energy resources in the Eastern Mediterranean, asserting its rights in the region as well as those of the Turkish Republic of Northern Cyprus (TRNC).

Turkish leaders have repeatedly stressed that Ankara is in favor of resolving all outstanding problems in the region through international law, good neighborly relations, dialogue and negotiations.

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