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Both countries report dozens of collapsed buildings and other significant damage from the earthquake.
There are reports of landslides and people trapped in the rubble, where rescue operations have already begun.
An earthquake of 6.9 magnitude shook Turkey's coast, and the Greek islands in the Aegean Sea reports the Euro-Mediterranean Seismological Center (CSEM). The focus of the earthquake was located 10 kilometers deep in the Dodecanese archipelago.
The earthquake, which occurred at approximately 08:00 local time this Friday, extended its effects from Istanbul to Athens and other nearby cities. Since then, at least 16 aftershocks were reported in the next two hours.
The Minister of Environment and Urban Planning of Turkey, Fatih Kurum, said the phenomenon caused considerable material damage in different locations and that there are people trapped under the rubble in the city of Izmir, which is being rescued.
For its part, the United States Geological Survey (USGS) calculated that the earthquake reached a magnitude of 7.0 and located its epicenter about 14 kilometers from Néon Karlovásion, Greece.
Some videos shared on social networks show a cloud of dust between the buildings shortly after the earthquake. There are also collapsing buildings and what was described as "minitsunamis" on the Greek island of Samos and at various points along the Turkish coast.
Turkish authorities reported that the earthquake was felt most strongly in the province of Izmir, where at least 20 buildings have collapsed. People are said to be trapped in the rubble of at least six collapses, and rescue operations are underway.