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ECONOMY

US Recognise Cyprus Right to Develop Its Resources in Its EEZ

US Recognise Cyprus Right to Develop Its Resources in Its EEZ

The United States recognise the right of the Republic of Cyprus to develop its resources in its Exclusive Economic Zone, and discourage any actions or rhetoric that increase tensions in the region, a State Department official has said, reiterating a previous statement.
 
The official did not comment directly on Turkish threats regarding the arrival of a research vessel belonging to US Company EXXON in the region.
 
In a statement, the official said "the US policy on Cyprus’ EEZ is longstanding and has not changed: the United States recognizes the right of the Republic of Cyprus to develop its resources in its Exclusive Economic Zone.”
 
“We continue to believe the island’s oil and gas resources, like all of its resources, should be equitably shared between both communities in the context of an overall settlement. We discourage any actions or rhetoric that increase tensions in the region,” the State Department official added.

Last month, Turkish warships blocked twice a vessel bound for drilling activities in Cyprus’ EEZ block 3 on behalf of Italian energy company ENI, the Cyprus News Agency reports.

The Cyprus government and the consortium of companies ExxonMobil Corporation and Qatar Petroleum signed in April 2017 the exploration and production sharing contract for Block 10 of the Republic of Cyprus EEZ.
 

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