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Free AccessEU Gives Sanctions Warning; Ball In Erdogan's Court Until March 2021
- EU confirms it will sanction ~6-10 Turkey officials and firms associated with East Med drilling activities and should be formally adopted in the next few weeks
- composed of travel bans and asset freezes.
- Falls short of hardline calls for arms embargo or overhaul of EU ties, but harsher measures will be subject to a reassessment in March to assess Turkey's level of compliance
- Effectively amounts to a warning shot at Turkey
- Erdogan has reiterated that he will continue to exercise Turkey's right to drill in its waters
- Will be interesting to see how he reacts in the coming weeks.
- In the short-term he's likely to hold his position on defending Turkey's sovereign rights
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.