NEWS

Borrell report warns Turkey of ‘political and economic consequences’

borrell-report-warns-turkey-of-political-and-economic-consequences

A report by European Commission Vice-President and High Representative Josep Borrell spells out the “political and economic consequences” that Turkey will suffer should the country “not move forward constructively in developing a genuine partnership with the EU, but instead return to renewed unilateral actions or provocations in breach of international law, aimed at causing prejudice to the interests of the EU and its member states, in particular in the Eastern Mediterraenan.”

“Further EU measures should be focused, proportionate and reversible, in order to adapt to the situation and the level of threat or challenge in the best possible manner, incentivise a return to a cooperative track and avoid a negative escalation dynamic,” the report says.

The report also calls for “smart, scalable yet reversible restrictive measures,” in particular the adoption of the additional listings already agreed by the European Council in December; enhancing the restrictive measures under the existing sanctions frameworks, potentially including legal entities; further restrictions on EU-Turkey economic cooperation, including on the operations of the European Investment Bank (EIB) and other financial institutions; measures targeting other sectors important for Turkish economy, “such as a prohibition to supply of tourism services” and negative travel advice by EU governments; and, finally, additional EU measures in the energy and related sectors, “such as import/export bans on certain goods and technologies.”