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25 April, 2024
 
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EU extends sanctions on Turkey for East Med drilling

Restrictive measures renewed until 2024 amid ongoing concerns over unauthorized activities

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In a press release on Thursday, the Council of the European Union announced the renewal of restrictive measures against Turkey for unauthorized drilling activities in the Eastern Mediterranean. These measures, initially imposed in 2019, have been extended until November 30th, 2024.

The renewed measures include an asset freeze for designated individuals and entities. EU citizens and companies are prohibited from providing funds or economic resources to those listed. Additionally, a travel ban within the European Union applies to the designated persons.

As of now, two individuals are on the list: Mehmet Ferruh Akalın, 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.

This decision allows the EU to continue enforcing targeted restrictive measures against individuals or entities involved in unauthorized drilling activities for hydrocarbons in the Eastern Mediterranean. The sanctions were initially imposed based on a Council decision on November 11th, 2019, following the Council's conclusions on October 14th, 2019, endorsed by the European Council on October 17-18, 2019.

[Information sourced from CNA]

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Cyprus  |  Turkey  |  drilling  |  energy

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