Exclusive economic zone

Kathimerini reports that Cyprus President Nicos Anastasiades has proposed the creation of an escrow account that would safeguard the Turkish Cypriot community's share from the natural gas proceeds.

Turkey issued a new Navigational Telex (Navtex) on Thursday night, reserving a maritime area in Cyprus' exclusive economic zone (EEZ) for drilling activities, Cypriot news outlet Politis reported.

The new Navtex concerns the activities of the Turkish drillship Fatih, and will come into force as of September 4.

Tensions are expected to heighten again in the Eastern Mediterranean after Turkey issued another navigational telex (Navtex) Wednesday reserving areas within Cyprus' exclusive economic zone (EEZ) for renewed exploratory activities by its Barbaros seismic vessel.

The Minister of Foreign Affairs and International Cooperation of Italy, Enzo Moavero Milanesi, found common ground during talks in Athens with Foreign Minister Nikos Dendias on bilateral relations and on the energy crisis in Cyprus' Exclusive Economic Zone where the Italian energy giant ENI has received an exploration license which Turkey has challenged.

The Turkish Petroleum Corporation (TPAO) has extensive and long-term plans in the Eastern Mediterranean that do not only include Cyprus' exclusive economic zone (EEZ), but also areas on the edge of the Greek continental shelf, Kathimerini understands.

By the end of 2020, a maritime spatial plan covering Bulgarian territorial waters in the Black Sea should be ready. This was stated by the regional deputy minister Denitsa Nikolova, quoted by the press center of the department. The plan is the first step and fundamental document for the implementation of the country's maritime policy.

Nicosia has granted approval to the energy companies ENI and Total to explore block seven of Cyprus' exclusive economic zone (EEZ) and approved nine other drilling operations within the EEZ over the next two years.

The approval was finalized in a cabinet meeting on Monday following recent indications by Energy Minister Giorgos Lakkotrypis that an agreement was in the works.

Washington has once again expressed "deep concerns" over Turkey's insistence on conducting drilling operations in Cyprus' offshore maritime zone, known as an EEZ.

European Council President Donald Tusk on Wednesday threatened Turkey with sanctions if it does not stop its drilling activities in Cyprus' exclusive economic zone (EEZ).

The European Union is considering suspending most high-level contacts with Turkey and cut the flow of funds in protest of the Turkish drilling activities in the Cyprus EEZ, Bloomberg reports.
A range of measures will reportedly be discussed by EU ministers on Wednesday in Brussels.