EU COUNCIL AUTHORISES SANCTIONS LAW TARGETED AT TURKISH OIL AND GAS SECTOR
November 2nd, 2020
THE EUROPEAN Union (EU) has ramped up pressure on Turkey to stop exploratory oil and gas drilling in Mediterranean waters that EU member state Cyprus claims is within its exclusive economic zone (EEZ). Turkey's state-owned oil company TPAO (Türkiye Petrolleri Anonim Ortaklığı) has sent its drillship Yavuz south of Cyprus, notably testing areas close to Israel’s EEZ that have anticipated major gas deposits.
The diplomatic situation is complicated by the fact that Turkey does not recognise the (Greek) Republic of Cyprus, only the Turkish Republic ...
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