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A Turkish merchant ship discovered a partially submerged boat on Saturday, according to officials.
Two individuals were rescued, and efforts to locate additional survivors are currently underway.
Greece serves as a key entry point into the European Union for those escaping conflict and poverty across the Middle East, Africa, and Asia, leading to frequent tragic incidents.
The once-common journey from Turkey to nearby Greek islands in inflatable rafts or small boats, often fraught with danger and poor conditions, has declined due to increased patrols and alleged pushbacks.
Recently, there has been an uptick in arrivals traveling from Libya to Crete.
In recent months, arrivals from Libya to Crete have surged.
Authorities have not yet determined where the boat came from.
A ship and a plane from European border agency Frontex, a Greek Coast Guard helicopter and three merchant vessels are taking part in the search operation.