President of the Republic of Cyprus Demetris Christofias has assured the Turkish Cypriots that they will also benefit from any wealth the country may gain from oil exploration, which has begun off Cyprus’ southeastern coast.

“Even if there is no political settlement to reunite the country – if Turkey does not show good will – and we do have an income from oil exploitation, we will use it for the common good of both communities,” the President said in statements after a meeting in New York with Greek Foreign Minister Stavros Lambrinides.

President Christofias, scheduled to address the UN General Assembly later today, is set to denounce the illegal agreement on what Turkey calls continental shelf, signed Wednesday between Turkey and the illegal Turkish Cypriot regime, in occupied Cyprus.

Speaking to the press after his meting with Lambrinides, he described the “agreement” as a provocation.

“Turkey’s response to our sovereign right to explore for hydrocarbons in our Exclusive Economic Zone is a provocation and illegal”, the President stressed, recalling that the UN have branded the regime as “legally invalid”. He also referred to UN resolutions 541 and 550, adopted when the illegal Turkish Cypriot regime was unilaterally declared in November 1983, which deplore the UDI and call on all states not to recognise or facilitate it.

President Christofias said he is going to call on Turkey to contribute to a solution to the Cyprus problem which would enable Turkish Cypriots benefit from hydrocarbons reserves.

“I can assure the Turkish Cypriots that they have nothing to lose, on the contrary they will gain a great deal, because all these issues relating to the exploitation of hydrocarbons will be handled by the central government in a federal Cyprus”, he explained, adding that “the central government will then distribute all income from the exploitation to the two constituent states”.

The Greek FM said that the “agreement” is an illegal and provocative act that has no merit and no validity.

“This act clearly shows that Turkey is not in line with international law and order and the role it is supposed to play in the region, which is to act as a stability power”, Lambrinides underlined.

He reaffirmed Greece’s support to Cyprus and efforts for the solution of the Cyprus problem on the basis of UN resolutions.

President Christofias thanked the Greek FM for his country’s support, noting that “Greece is our greatest support in these difficult times for both our countries and we must stand together”.

Houston-based ‘Noble Energy’, whose drilling rig is already in place, off the island’s southern coast, has begun drilling in Cyprus’ EEZ. The company has a concession to explore for hydrocarbons in an offshore field, south of Cyprus, known as Block 12.

Turkey, whose troops occupy Cyprus’ northern part since they invaded in 1974, does not recognise the Republic of Cyprus. Following a decision by Nicosia to begin natural gas and oil exploration in its exclusive economic zone, Ankara has deployed warships in the Eastern Mediterranean and has signed an illegal agreement with the Turkish Cypriot regime in occupied Cyprus to delineate what they call continental shelf.

Cyprus has signed an agreement to delineate the Exclusive Economic Zone with Egypt and Israel with a view to exploit any possible natural gas and oil reserves in its EEZ. A similar agreement has been signed with Lebanon but the Lebanese Parliament has not yet ratified it.

UN-led talks are currently underway to reach a negotiated settlement that would reunify the island.

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