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Enlargement funds cuts and “reassessment” of EIB financing, among proposed EU measures against Turkey

July 10, 2019 at 9:40am

The European External Action Service and the European Commission will table the option of suspending 145.8 million euro on enlargement funds and “reassess” the European Investment Bank`s investing in Turkey, at an EU Member States permanent representatives` meeting, as an answer to Turkey`s illegal drilling activities in the Exclusive Economic Zone of Cyprus.

The presentation was done in preparation for the upcoming ministerial meetings next week, a well-informed diplomatic source told the Press in Brussels. In addition, the EU Commission will suspend a series of “high-level” dialogues at ministerial level in the economy, agriculture, energy and transport sectors as well as hold off  any EU-Turkey summits at the moment.

The Commission is also expected to state that it is ready to propose targeted measures against companies and persons related to Turkey`s drilling activity in a second phase “at a time when Member States will consider it necessary,” the diplomatic source said. What will be implemented will be discussed by Foreign Ministers next week.

(Cyprus News Agency)