Egypt and Greece ink exclusive economic zone deal

Egypt and Greece signed an agreement Thursday to set up an exclusive economic zone in the eastern Mediterranean amid regional tensions over energy resources in the area.

Egyptian Foreign Minister Sameh Shoukry announced the deal, which delineates the maritime borders of both countries, at a Cairo news conference alongside his Greek counterpart Nikos Dendias.

It comes after Turkey last year signed a deal with the UN-recognised government in Libya on maritime jurisdiction, with several countries accusing Ankara of trying to assert its dominance in the region.

The deal “allows Egypt and Greece to move forward in maximising the benefits of the available resources in the exclusive economic zone for each of them, especially oil and gas reserves,” Shoukry said.