Cyprus Problem | Egypt to Renegotiate Maritime Border with Cyprus

Egypt EEZCyprus Problem | Egypt to Renegotiate Maritime Border with Cyprus

According to the Ekathimerini website, Egypt has approved a draft law that cancels the positioning of maritime borders of an exclusive economic zone (EEZ) between Egypt and Cyprus. This new bill is said to invalidate a deal signed in 2003 and a renegotiation could mean billions of dollars for Egypt.

In the past, Cyprus has signed delineation agreements with Egypt, Israel and Lebanon to pave the way for exploiting hydrocarbon deposits that criss-cross their boundaries. This new bill expects the delineation of a new EEZ to be made in the presence of Turkey as a third party.

Some observers are saying that this renegotiation, involving Turkey, is an attempt to play power politics against Israel.

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