Tag Archives: Cyprus

Turkey warns Greek Cypriots, oil companies against offshore energy grab

Turkish President Tayyip Erdogan makes a speech at the 22nd World Petroleum Congress in Istanbul, Turkey, July 10, 2017.

By Ece Toksabay and David Dolan

ISTANBUL (Reuters) – Turkey warned Greek Cypriots on Friday not to make a grab for energy reserves around the divided island and President Tayyip Erdogan told oil companies to be careful they did not lose a “friend” by joining in.

Talks to reunite the ethnic Greek and Turkish sides of Cyprus collapsed in anger and recrimination in the early hours of Friday, ending a process many saw as the most promising in generations to heal decades of conflict.

Turkish Prime Minister Binali Yildirim, speaking at an energy conference in Istanbul, called on Greek Cypriots to refrain from taking “one-sided measures” after talks failed.

It was a clear reference to plans by the internationally recognized Greek Cypriot government to exploit potential hydrocarbon deposits around the Mediterranean island.

The government has already issues a maritime advisory for a natural gas drill from July to October.

“We want to remind once again that the hydrocarbon resources around Cyprus belongs to both sides,” Yildirim said.

“The Greek Cypriot leadership must seek a constructive approach rather than setting an obstacle for peace. We advise that they refrain from unilateral measures in the east Mediterranean.”

Erdogan, speaking later at the same conference, went further, with a not-very-veiled threat to oil companies who may be tempted to participate in the Greek Cypriots’ plans.

“It is impossible to appreciate that some energy companies are acting with, and becoming part of some irresponsible measures taken by, Greek Cypriots,” Erdogan said. “I want to remind them that they could lose a friend like Turkey.”

 

NEW TENSIONS

Greek Cypriots say it is its sovereign right to explore for hydrocarbons, and it has signed maritime delimitation agreements with most of its neighbors.

Asked on Sunday if there was any pressure on Cyprus regarding the drilling schedule, Cypriot President Nicos Anastasiades said: “Nothing (pressure) is being applied, nor will there be a postponement.”

A number of energy companies have already beaten a path to the island.

Italy’s ENI, ExxonMobil, France’s Total and Korea’s KOGAS have won offshore exploration licenses

A drilling ship contracted by Total, the West Capella, is already heading for Cyprus.

“What we expect from anyone who takes sides in the developments in Cyprus is that they should refrain from steps that might pave the way for new tensions in the region,” Erdogan said.

Asked by Reuters at the petroleum conference whether the company was worried that drilling could alienate Turkey, Arnaud Breuillac, Total’s president of exploration and production, said the company had “no concerns”.

The issue has risen to the fore again because of the failure of the latest round of reunification talks, which were started in part to try to solve the energy issue.

A week of United Nations-mediated talks in the Swiss Alps culminated in a “yelling and drama” session, leaving the conflict unresolved.

Cyprus’s Greek and Turkish Cypriots have lived estranged since a Turkish invasion in 1974 triggered by a brief Greek- inspired coup.

Turkey has 30,000 troops stationed in northern Cyprus and their status in any post-settlement peace deal proved to be the undoing of a process one diplomat lamented came “so, so close” to succeeding.

Cyprus talks have collapsed before, most spectacularly in 2004, when Greek Cypriots rejected a U.N. reunification blueprint in a referendum while Turkish Cypriots backed it. It took several years for the United Nations to re-engage.

 

(Reporting by Ece Toksabay; Written by Jeremy Gaunt and David Dolan; Additional reporting by Michele Kambas in Athens; Editing by Larry King)

 

Good atmosphere but nothing new in EU talks with Erdogan, sources say

Turkish President Tayyip Erdogan delivers a speech during a graduation ceremony at an Imam Hatip religious school association in Istanbul, Turkey, May 26, 2017.

By Gabriela Baczynska

BRUSSELS (Reuters) – Talks last week between the heads of European Union institutions and Turkey’s president, Tayyip Erdogan, were held in a “good atmosphere” but produced no new agreements, officials in Brussels said, playing down comments by the Turkish leader.

Tensions between Turkey and the EU run high over rights and security issues, but the bloc depends on the help of NATO ally Ankara on migration and the conflict in Syria.

After meeting European Council President Donald Tusk and European Commission President Jean-Claude Juncker last week in Brussels, Erdogan was quoted as saying he had been presented with a new 12-month timetable for renewing ties.

But senior EU officials voiced caution and some scepticism, saying no formal deadlines were set. The EU has a list of mid- and high-level meetings it hopes to hold with Turkey this year, they said, but any improvement in bilateral ties would depend on Erdogan’s resolving at least some of many points of contention.

They include the EU’s worry that Turkey’s anti-terror laws are too broad and used to persecute Erdogan critics, as demonstrated in Ankara’s sweeping security crackdown following a botched coup almost a year ago.

Other concerns relate to the treatment of the Kurds, the media and academics, as well as Erdogan moving to assume even more powers following an April referendum.

The pre-referendum campaign produced new spats with EU members Germany and the Netherlands, whose authorities Erdogan likened to Nazis when they had prevented Turkish politicians from campaigning in their countries.

Despite the often harsh rhetoric, senior EU officials said the atmosphere of the meeting was “good” and “constructive”.

“It was definitely not hostile, but both sides pretty much restated their well-known positions,” one of the sources said.

Turkey complains about slow progress in its stalled EU accession talks, discussions on visa-free travel for Turks to the EU and disbursement of EU funds to Syrian refugees living in Turkey.

The bloc says Erdogan must first address concerns over human rights and rule of law, and should work with the Council of Europe – a European rights watchdog of which Turkey is a member – on that..

The EU says progress in talks over reuniting the ethnically split Cyprus is also key to unlocking other area, including ideas to beef up an existing customs union between Turkey and the EU.

Erdogan has suggested Turkey could hold a referendum on continuing EU accession talks, and possibly another on reinstating the death penalty. Restoring capital punishment would end Turkey’s bid to join the EU.

EU leaders will discuss their ties and especially their cooperation with Turkey on migration when in Brussels on June 22-23. Calls from the European Parliament to formally halt Turkey’s accession talks have so far not reached critical mass.

“We have no choice,” one of the sources said when asked if the EU was looking to working more with Turkey after the top-level talks with Erdogan.

(Reporting by Gabriela Baczynska, editing by Larry King)

Meteorite whizzes past Cyprus and explodes, lighting up night sky

ATHENS (Reuters) – A suspected meteorite did a close fly-by over Cyprus early on Friday, sending people into consternation over a blitz of bright lights which appeared in the night sky coupled with large bangs.

“It had a 45 degree tilt and a bang was heard as it passed over Cyprus,” said Ioannis Fakas, the honorary chairman of the Cyprus astronomical society.

People living in the mountainous Troodos range reported green-white glows in the sky at around one in the morning, then large blasts, police said. Some reported the ground shook.

Parts of the meteorite were thought to have fallen into the sea north of Cyprus, Fakas told state TV.

“It wouldn’t have weighed any more than a few kilos,” he said. “When it crossed Cyprus it exploded,” he told the Cyprus Broadcasting Corporation.

(Reporting By Michele Kambas Editing by Jeremy Gaunt)

Cyprus Government Starts Emergency Efforts

Eurozone finance ministers were holding unscheduled meetings trying to find a “plan B” for Cyprus as the country’s financial system is rapidly collapsing beyond their control.

The country’s banks have been shut until next week because of a run on savings accounts. Rumors that the European Union and the International Monetary Fund would require all Cyprus account holders to sacrifice a portion of their savings to obtain a bailout of the nation. Continue reading →

Cyprus Officials Vote Against Banking Bailout And Account Seizure

Admit outcry from citizens, the government of Cyprus has unanimously rejected a bailout measure from the European Union and the International Monetary Fund that would require seizing funds from every bank account in the nation.

After the vote the European Central Bank said they would move to assist Cyprus in any way they can under the currently approved banking systems. Continue reading →

Cyprus Credit Rating Cut To Junk Status

Ratings firm Finch has cut the rating of the country of Cyprus to junk status. The cut is believed to be in response to Cyprus banks holding much of the real estate debt of Greece.

Fitch states that Cyprus will need at least 4 billion euros to support its banks on top of 1.8 billion euros needed to recapitalize its lender Cyprus Popular Bank. The bank needs and the junk rating will make it almost impossible for the country to borrow from international markets. Continue reading →