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Greece & Egypt sign deal on exclusive economic zone amid tensions with Turkey

Greece & Egypt sign deal on exclusive economic zone amid tensions with Turkey

Egypt and Greece signed an agreement on Thursday, designating an exclusive economic zone in the eastern Mediterranean between the two countries, Egyptian Foreign Minister Sameh Shoukry said. The area contains promising oil and gas reserves.

Shoukry made the announcement after meeting his Greek counterpart Nikos Dendias in Cairo, Reuters reports. The agreement is within the framework of international law and contributes to security and stability in the region, Dendias said.

Cairo and Athens are at odds with Turkey, which last year angered the two states by signing a maritime delimitation agreement with the internationally recognized Libyan government. The move escalated disputes over potential offshore gas reserves in the eastern Mediterranean.