Recent Aegean tensions center on competing Turkish and Greek NOTAMs for overlapping military exercise zones through late October 2026, alongside Turkish fighter jet overflights and UAV activity that Athens reports as airspace violations. Ankara has conducted large-scale naval drills in the region while criticizing Greek island militarization and advancing “Blue Homeland” maritime claims through proposed legislation. Athens has responded with its own exercises and rejected Turkish demands for prior coordination on projects such as the Greece-Cyprus-Israel electricity interconnector. Turkish officials link the friction to broader regional dynamics, including pressure in Syria, while both governments maintain open diplomatic channels and have referenced possible talks on maritime delimitation following recent leader-level contacts. These developments sustain trader focus on incident risks without confirmed escalation.