The European Union issued a one-month ultimatum to Turkey in a last-ditch effort to provide an “opportunity for diplomacy” before the 27 impose sanctions on Ankara that will hit the suffocating Turkish economy.

After two days in which EU foreign ministers had the opportunity to discuss the multiple challenges facing the EU in its neighbourhood, from Lebanon, Belarus, Mali and of course to the Eastern Mediterranean where Turkey threatens sovereignty of two EU member states, namely Greece and Cyprus, the EU Council has decided to present for the first time the sanctions that Ankara will face if it does not halt its illegal activities in the region.

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According to the EU High Representative for Foreign Affairs and Security Policy and de facto Vice-President of the European Commission Josep Borrell the EU is finalizing the list of sanctions, which include:

According to reports, the text read by Josep Borrell to the 27 foreign ministers provides for the adoption of the following sanctions against Turkey in case the government of Tayyip Erdogan does not take concrete measures to de-escalate the tension caused by Ankara with its aggression in Turkey. Eastern Mediterranean:

1. Restrictive measures in case of continuation of illegal drilling in the Eastern Mediterranean.

2. Registration of ships involved in illegal research activities.

3. Sanctions in specific areas (sales, procurement, export of material related to energy research, transfer of technology and products)

4. Financial services (banking and industrial sector) – ban on lending to Turkey by EU state-owned banks

5. Possibility of reducing European funds disbursed to Turkey

6. In case of non-compliance by Turkey by September, a travel ban will be considered

7. Further strengthen the registrations for actions of Turkey in the sea zones of Cyprus and Greece under the existing sanctions regime against Turkey.