"Ottoman loan"

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The Ottoman loan or Cypriot tribute tax was the obligation of Cyprus to pay £92,800 to Turkey. In Article 3 of the Convention on Cyprus, between Britain and the Ottoman Empire, London promised that "it will pay the portal the existing surplus of the income against the costs for the island. This surplus will be calculated and determined on the basis of the average over the last five years. The amount agreed was 92,800 pounds, more than the sources of Cyprus. However, the English did not intend to pay the Sultan, but wanted to use it to serve the interest of the Ottoman Empire, for the loan he took from England for the Crimean war.

In 1923, Great Britain cleared Turkey from the 1855 loan. But Cyprus should pay because Ottoman debts were converted into public debt.

According to Heinz Richter, Great Britain took advantage of Cyprus for more than 50 years, without any legal and moral rights.

References

Sources

English rule in Cyprus
Loan