The US administration imposed sanctions 5 Turkish companies and 1 Turkish citizen for violating US sanctions against Russia over the Ukraine war, Reuters reported on September 14. “For the past 18 months, we’ve shared our concerns with the Turkish government and private sector and informed them of the significant risks of doing business with those
Something happened to President Tayyip Erdoğan after he won the election. First, interest rates started to rise, which he said would not happen “as long as he is in charge”. Then he backtracked on his invention of the FX protected deposit scheme (KKM). His hopes of meeting US President Joe Biden at the G20 Summit
Strong defence ties and the need for geostrategic cooperation between Türkiye and the US used to provide the main resilience against problems and crises between two countries. The level of economic and trade ties, by contrast, never reflected the strategic cooperation between the two allies. In fact, Türkiye’s purchase of armaments constituted the main bulk
President Tayyip Erdoğan on his trip to India to attend the G20 Summit. The theme of this year’s summit, to be held in New Delhi on September 9-10, is “One World, One Family, One Future”, taken from the ancient Sanskrit concept of “Vasudhaiva Kutumbakam”. “The theme affirms the value of all life – human, animal,
Let’s be clear. It was already clear from Foreign Minister Hakan Fidan’s contacts with Ukraine and Russia that President Tayyip Erdoğan would not be able to convince his Russian counterpart Vladimir Putin to return to the grain deal at the Sochi meeting on September 4. Diplomatic sources considered it a miracle if the issue was
Turkish Foreign Ministry on September 1 announced that Minister Hakan Fidan will pay a visit to the Islamic Republic of Iran on September 3 upon the invitation of Hossein Amir Abdollahian, Minister of Foreign Affairs of Iran. “During the visits Minister Fidan will hold high-level meetings in Tehran. The visit will render the opportunity to
The Monetary Policy Committee of the Central Bank of Turkey (CBRT) raised the policy rate from 17.5 percent to 25 percent on August 24. “The Committee decided to continue the monetary tightening process to establish the disinflation course as soon as possible, to anchor inflation expectations, and to control the deterioration in pricing behavior,” the
On August 25, US Chairman of the Joint Chiefs of Staff General Mark Milley gave an exclusive interview to the Jordanian TV channel Al-Mamlaka in Amman. This interview was mostly highlighted in the Turkish press on the grounds that the US had no intention of leaving the Middle East due to its energy interests, which
When I sat down at my computer in the morning, my intention was to write about the crush of the plane reportedly carrying Yevgeni Prigojin, the head of the Russian mercenary army Wagner, on the Moscow-St. Petersburg route on the evening of 23 August, exactly two months after he revolted against Russian Army. However, the
Türkiye may print 500 and 1000 Turkish Lira banknotes amid increasing inflation and currency crisis. This time last year, former Minister of Treasury and Finance, Nurettin Nebati was saying “there is no need for such measure,” when asked if there will be any banknotes with larger denomination. His ministry was obeying the instructions of President