The EU is imposing new sanctions on Turkey over the drilling activities in the eastern Mediterranean and this is causing turmoil in the country.
The European Council said that there wouldn’t be further meetings and talks with Ankara for the time being.
This comes after months of tensions where Ankara keeps expanding its drilling operation in the Greek-Cyprus territory despite arrest warrants for ship’s crews issued by the southern Europe governments.
EU has cut the Pre-EU accession financial aid funds for Ankara, that will be effective next year and has advised the European Investment Bank to reconsider its plans with Turkey.
Former Turkey’s diplomat Sinan Ulgen said that this will have a little impact on Turkish economy but he’s concerned about the escalation that the situation can bring as he deems the EU sanctions as a ‘miscalculation’ that should be replaced with a more positive agenda that can have ‘a more influential impact on Ankara’s behavior’.
Ulgen commented also on the EU’s Comprehensive Air Transport Agreement negotiations with Turkey that were suspended with the new sanctions, saying that this means that further liberalization in air transport will be postponed.
Ankara replied to the sanctions saying that would send a new ship ‘as soon as possible’.
The new EU sanctions come at the same time as the impending US sanctions over the purchase of a Russian missile by Ankara.
The EU-Turkish negotiations have not progressed for over a decade because of Ankara’s stance over Cyprus that it’s not formally recognized as a republic by Turkey.
Madalina Sisu Vicari, managing director of Vocal Europe has commented on the air transport agreement saying that it’s a symbolic political move by the EU instead of a tool aimed at trying to change Ankara’s behavior.