EU restrictive measures for Turkish drilling in Cypriot EEZ extended to 2024

08:40 - 10 November 2023

5dc0cef1-726c-4327-89c0-dd0009a9cfe2.width-750

Economy Reporter

The Council of the EU has renewed for an additional year its restrictive measures imposed in 2019 in view of Turkey’s unauthorised drilling activities in the Eastern Mediterranean.

As stated in a press release by the Council of the EU on Thursday, the restrictive measures have been renewed until 30 November 2024.

The restrictive measures consist of an asset freeze for listed persons and entities and EU citizens and companies are forbidden from making funds or economic resources available to those listed.

In addition, a travel ban to or through the European Union applies to listed persons.

Currently, two individuals are listed. They are Mehmet Ferruh Akalın, the vice president of the Board of Directors of the Turkish Petroleum Corporation (TPAO) and head of its Exploration Department, and Ali Coscun Namoglu, deputy director of the Exploration Department of TPAO.

Through this decision the EU maintains its ability to impose targeted restrictive measures on persons or entities responsible for, or involved in, unauthorised drilling activities of hydrocarbons in the Eastern Mediterranean.

Restrictive measures are imposed on the basis of a decision adopted by the Council on 11 November 2019, as a follow-up to the Council’s conclusions of 14 October 2019, which were endorsed by the European Council on 17-18 October 2019.

(Source: CNA)

EU restrictive measures for Turkish drilling in Cypriot EEZ extended to 2024

News Feed

Read More