Greek Cypriot leader Nicos Anastasiades has responded to President Mustafa Akıncı’s non-paper suggesting sharing the management of gas exploration with the Turkish Cypriots with a new his own non-paper
Anastasiades’ paper suggests that Turkish Cypriots would be able to receive revenues from natural gas income before the Cyprus problem was resolved. To date, he has stipulated that sharing gas revenues would come after the solution to the Cyprus problem.
Greek Cypriot daily ‘Politis’ published a report claiming that Greek Cypriot leader Nicos Anastasiades presented a new non-paper to President Mustafa Akıncı on the sharing of natural gas revenues.
The newspaper listed Anastasiades’ proposals as follows:
Establishing an information mechanism to ensure that Turkish Cypriots are informed of the developments and decisions taken on the management of natural gas. Opening a bank account related to the Natural Gas Fund, in which the ratio of natural gas revenues to Turkish Cypriots will be deposited. This rate is thought to be 30 percent.
Allowing the withdrawal of money from the Turkish Cypriot natural gas account by 2022, which is expected to begin with the initial revenue from natural gas. The offer means that the Greek Cypriot side has relinquished a trump card in the event of a new round of negotiations.
However, the proposal carries the condition that Turkey adopts the UN Convention on the Law of the Sea and agrees to delineate its exclusive economic zone (EEZ) with respect to that of Cyprus, a move that, if accepted, would terminate Turkish drilling off the Cyprus coast and de-escalate tension.
Recognition of the Cyprus EEZ would also automatically signal Turkey’s recognition of the Republic of Cyprus.
The Greek Cypriot leader’s assessment is that the management of natural riches is the subject of sovereignty, so the unrecognised ‘Turkish Republic of Northern Cyprus cannot be granted such a right.
‘Politis’ claimed that President Akıncı gave a positive reaction to the proposal offered by Anastasiades at the 9 August meeting, when he requested the proposal in writing. The proposal, which was also reviewed was recorded as sent to Akıncı.
It added that Turkey’s Foreign Minister Mevlut Cavusoglu had given no answer to the proposal and that it believed any acceptance by Turkey of Anastasiades’ revenue-sharing proposal was unlikely.