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

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 Banks investing in Turkey, at an EU Member States permanent representatives meeting, as an answer to Turkeys 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 Turkeys 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.

Source: Cyprus News Agency