Turkey: EU sanctions over gas drilling 'worthless'

Image
AP Ankara
Last Updated : Jul 16 2019 | 8:21 PM IST

Turkey on Tuesday rejected as "worthless" an initial set of sanctions approved by the European Union against Ankara, and vowed to send a new vessel to the eastern Mediterranean to reinforce its efforts to drill for hydrocarbons off the island of Cyprus.

EU foreign ministers on Monday approved sanctions against Turkey over its drilling for gas in waters where EU member Cyprus has exclusive economic rights. They said they were suspending talks on an air transport agreement, as well as high-level Turkey-EU dialogues, and would call on the European Investment Bank to review its lending to the country.

They also backed a proposal by the EU's executive branch to reduce financial assistance to Turkey for next year. The ministers warned that additional "targeted measures" were being worked on to penalize Turkey, which started negotiations to join the EU in 2005.

The EU sanctions came as Turkey also faces possible economic sanctions from the US over its purchase of a Russian-made missile defense system which Washington says is incompatible with NATO equipment and poses a threat to the US F-35 fighter jet program.

Turkey began taking delivery of the Russian S-400 system on Friday and planes carrying more components arrived in Turkey on Tuesday.

Speaking at a news conference in Macedonia, Turkish Foreign Minister Mevlut Cavusoglu said the EU sanctions aimed to "appease" Cyprus and were of "no importance."
"They were forced to take the worthless decisions under pressure from the Greek Cypriots and Greece." Cavusoglu added: "If you take such decisions against Turkey, we will increase our activities. We have three ships in the eastern Mediterranean, will with send a fourth."

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 16 2019 | 8:21 PM IST

Next Story