The Council of the European Union has decided to extend for another year the sanctions regime regarding Turkey's unauthorized drilling in the Eastern Mediterranean. The sanctions regime will therefore continue to apply until 12 November 2023.
With this decision the European Union retains the possibility to impose targeted restrictive measures on natural or legal persons responsible for/or involved in unauthorized hydrocarbon drilling activities in the Eastern Mediterranean.
Sanctions include EU travel bans and asset freezes for individuals and entities, while individuals and entities in the EU are prohibited from holding funds with those on the list.
As noted in the relevant announcement, two individuals are currently on the list of targeted measures under this regime.
The decision will enter into force on the day following that of its publication in the Official Journal of the European Union.
The sanctions regime for unauthorized drilling in the Eastern Mediterranean is a follow-up to the Council conclusions of 14 October 2019, which were adopted by the European Council on 17 and 18 October of the same year.
In these conclusions, the EU reiterated its full solidarity with Cyprus regarding the respect of its sovereignty based on international law, and had invited the Commission and the European External Action Service to submit proposals for a framework of restrictive measures.
Based on the Council's decision, the matter continues to be monitored and the regime is renewed or adjusted according to developments if the Council considers that the objectives of the restrictive measures regime have not been achieved.