The European Union threatened Turkey with fresh sanctions – including tough economic measures – unless progress is made in reducing soaring tensions with Greece and Cyprus in the Eastern Mediterranean.

The EU’s top diplomat Josep Borrell on Friday said the bloc wanted to give “a serious chance to dialogue” but was steadfast in its support for member states Greece and Cyprus in the crisis, which has raised fears of a military standoff.

A dispute over maritime borders and gas drilling rights near the island of Cyprus has reignited the long-running rivalry between Athens and Ankara, with the two neighbors staging rival naval drills.

The EU’s measures, meant to limit Turkey’s ability to explore for natural gas in contested waters, could include individuals, ships or the use of European ports, Borrell said.

“We can go to measures related to sectoral activities … where the Turkish economy is related to the European economy,” Borrell told a news conference, referring to possible sanctions.

The EU would focus on everything related to “activities we consider illegal”, he said.

Borrell was speaking after EU foreign ministers met in Berlin to discuss support for Greece after it ratified a maritime accord with Egypt to counter Turkey’s claims to energy resources in the region.

Source: Agenceis