Republic of Cyprus President Nicos Anastasiades this week sought a compromise with the Turkish Cypriots and Turkey in a bid to ease geopolitical concerns surrounding gas development offshore the island. It’s unlikely to be accepted, but could be a valuable starting point for negotiations.
Under the latest initiative, north Cyprus (solely recognised by Turkey) would receive 30% of any hydrocarbon-related revenues, a share roughly proportionate to the accepted population share of Turkish Cypriots. In return, Turkey would sign up to the United Nations Convention on the Law of the Sea (UNCLOS) and delimitate its Exclusive Economic Zone (EEZ) with Cyprus, essentially meaning it would halt drilling operations around the island (MEES, 9 August). (CONTINUED - 229 WORDS)