Economics
EU Escalates Warnings to Turkey, Prolongs Russian Sanctions
- EU may examine ‘targeted measures’ against Turkey over Cyprus
- Sanctions against Russia over Ukraine enroachment prolonged
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European Union leaders escalated a threat to sanction Turkey over its offshore drilling in Eastern Mediterranean, while prolonging punitive measures against Russia for encroaching on Ukrainian territory.
The EU will “closely monitor developments and stands ready to respond appropriately and in full solidarity with Cyprus,” leaders said in a joint communique on Thursday, while vowing to consider “targeted measures” - a decision that could pave the way for sanctions against companies and individuals involved in drilling activities in an area claimed by Cyprus.