Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Turkey says EU decisions will not affect its energy activities off Cyprus

Published 16/07/2019, 05:57
Updated 16/07/2019, 06:01
© Reuters.  Turkey says EU decisions will not affect its energy activities off Cyprus

ISTANBUL (Reuters) - European Union decisions to curb contacts and funding for Turkey over its drilling for gas and oil off Cyprus will not affect its determination to continue energy activities in the region, the Turkish foreign ministry said on Tuesday.

The ministry said the EU's failure to mention Turkish Cypriots in its decisions, taken on Monday, "showed how biased and partisan the EU is on the subject of Cyprus".

The EU suspended negotiations on the Comprehensive Air Transport Agreement and agreed not to hold the Association Council and further meetings of the EU-Turkey high-level dialogues for the time being.

It also endorsed a proposal to reduce the pre-accession assistance to Turkey for 2020 and invited the European Investment Bank to review its lending activities in Turkey, notably with regard to sovereign-backed lending.

"The decisions will not affect in the slightest our country's determination to continue hydrocarbon activities in the Eastern Mediterranean," the ministry statement said.

Ankara, which backs the breakaway northern part of the divided island, says that certain offshore zones fall under the jurisdiction of Turkey or of Turkish Cypriots. Cyprus was divided in 1974 after a Turkish invasion triggered by a brief Greek-inspired coup.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.