The EU Council approved the imposition of sanctions against Turkey because of the drilling of the shelf in the exclusive economic zone of Cyprus.
The EU suspended negotiations on the agreement on air services and will cancel a series of meetings at a high level in the framework of the dialogue between the EU and Turkey, as well as reduce the amount of aid the country in preparation for accession to the Union. The European Investment Bank has been asked to review its lending activities in Turkey, especially in the area of lending with state support.
On the shelf in the exclusive economic zone of Cyprus are large deposits of oil and gas. Turkey has been challenging the borders of this zone for many years.
In May, Turkey dispatched to the area of the offshore drilling vessel to conduct exploration work, saying that they will last for four months. Despite the subsequent calls by the EU and the US to abandon drilling, Ankara sent another vessel to the region in early July.