The European Union will reduce its financial assistance to Turkey and halt high-level talks with the country as part of a set of sanctions over oil and gas drilling off the coast of Cyprus.
EU foreign ministers who met in Brussels on Monday decided to reduce the pre-accession assistance to Turkey for 2020 by €145.8 million. They also suspended negotiations on an aviation agreement and halted high-level bilateral talks between the two countries.
Finally, they invited the European Investment Bank — the EU’s not-for-profit lending institution — to review its lending activities in Turkey, which totalled €358.8 million last year.
The Council once again called on Turkey to refrain from any drilling activities off the coast of Cyprus and instead, “act in a spirit of good neighbourliness and respect the sovereignty and sovereign rights of Cyprus in accordance with international law.”
It also said that “it remains seized of the matter” and that the bloc’s top diplomat and the EU Commission will “continue to work on options for targeted measures.”
Turkey sent a first drilling ship off the coast of Cyprus — which is divided in a Greek-speaking and a Turkish-speaking parts — two months ago.
Meanwhile, Turkey has said the European Council’s decision to suspend high-level talks with Ankara won’t affect Turkey’s determination to continue hydrocarbon activities in the Eastern Mediterranean.
The Foreign Ministry said Turkey will continue to protect its and Turkish Cypriots’ rights and will increase its activities in this aspect, the ministry said in a statement.
Last week the Armenian Foreign Ministry issued a statement, expressing concern over Turkey’s attempt to conduct a new drilling operation in the northeast of Cyprus.
