Recent tensions center on competing maritime claims in the Aegean and eastern Mediterranean, intensified by overlapping NAVTEX notices for the Eunomia 2026 multinational exercise and surveys for the Greece-Cyprus Great Sea Interconnector cable project. Turkey has issued counter-notices asserting jurisdiction over areas east of Crete and near Kasos/Karpathos, citing its continental shelf and Libya memorandum, while Greece proceeds without seeking Ankara’s consent and reports frequent Turkish aircraft and drone violations, including armed F-16 interceptions and simulated engagements near Kastellorizo in early October. Turkish state media have warned of potential naval encounters involving Greek and French vessels. Parallel diplomatic channels, including confidence-building talks and UN-side discussions on maritime delimitation, continue alongside U.S. statements emphasizing NATO constraints against direct conflict. These developments, concentrated in the past two weeks, shape trader assessments of near-term engagement risks.