The foreign ministers of the EU countries have approved the imposition of sanctions against Turkey over its geological exploration in the waters of Cyprus, the DPA agency reported on Monday referring to the statement adopted by the European ministers at a meeting in Brussels, TASS reported.

According to the document, the EU will reduce financial support for Ankara and suspend negotiations on an agreement on air transport.

The EU countries are ready to consider other types of restrictive measures, if Turkey continues to violate the sovereign rights of Cyprus.

Sanctions may be imposed against companies and individuals involved in drilling.