CENTRAL BANK SPENDS $23.5B IN TWO WEEKS TO DEFEND LIRA
The central bank spent approximately $23.5 billion in foreign exchange interventions during the first two weeks of the Iran war to defend the Turkish lira.
Analysis
In-Depth Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
HORMUZ SHOCK IN GLOBAL SUPPLY CHAINS AND ITS IMPACT ON TURKISH ECONOMY
The war that erupted on Feb. 28, between Iran, the U.S. and Israel has sparked deep global uncertainty, as Iran targets U.S. bases and strategic energy infrastructure across the Gulf.
ANKARA DENIES REPORTS OF IRANIAN GAS CUTOFF
Energy Minister Alparslan Bayraktar denied media reports that Iran stopped natural gas exports to Turkey following an Israeli military strike on the South Pars gas field on March 18.
CEM ÖZDEMIR, THE PATH TO STATE PREMIER, AND THE QUESTION OF MIGRATION
In the March 8 election in Baden-Württemberg, Green Party candidate Cem Özdemir came first, edging out the CDU, if only narrowly. So far, so unremarkable. The state has, after all, been governed by the Greens since 2011. But the picture changes when the victor, under the Green banner, is Cem Özdemir.
THE TRUMAN SHOW IN THE EASTERN MEDITERRANEAN: CYPRUS AND PERFORMANCE OF NORMALITY
If Cyprus were a film, it would probably be The Truman Show. Not because anything dramatic is happening, quite the opposite. The genius of The Truman Show is that nothing seems to be happening at all.
A GRAND BARGAIN TAKES SHAPE: HALKBANK, HAMAS AND THE YPG FACTOR
The deal to resolve the case over allegations that Halkbank helped Iran evade American sanctions was announced on March 9, at the height of U.S.-Israeli attacks against Iran.
HALKBANK CASE SETTLED, FORMER EXECUTIVE SAYS ISRAEL PLAYED A ROLE
In a historic development for Turkish-American relations, the long-standing legal battle over Iran sanctions involving the Turkish state lender Halkbank has been settled. The U.S. government said the result will curb support for Iran.
IMPORTANCE OF KÜRECİK INCREASES
Iran destroyed U.S. long-range radar installations in Qatar and Jordan on Feb. 28 and March 7, increasing the importance of the Kürecik AN/TPY-2 radar station in Malatya province. Like the Adana İncirlik Air Base, NATO has placed the Malatya Kürecik Radar Station under the protection of its Patriot air defense system, another possible target for ballistic missiles launched from Iran.
TARGET IN TURKEY BECOMES A MATTER OF DEBATE
NATO announced that its assets shot down two ballistic missiles aimed at Turkey in a week, but Iran denied that they had targeted Turkey. Since the Defense Ministry and NATO did not provide information on which region of Iran the ballistic missiles were launched from, the route taken by the missiles and their target became a matter of debate.
TURKEY LIKELY TO DELAY RATE CUTS DUE TO IRAN TENSION
The central bank may pause its easing cycle at the March 12 meeting amid growing uncertainty caused by the U.S. attack on Iran.
ANKARA ACTIVATES TAX SHIELD TO CUSHION IMPACT OF OIL SURGE
Turkey has reintroduced the “sliding scale mechanism” to prevent dramatic pump hikes from feeding inflation after the Iranian War pushed global oil prices higher.
RUSSIAN AND FRENCH EMBASSIES IN ANKARA SPAR ON SOCIAL MEDIA IN TURKISH
In a rare diplomatic spat in the local language, the Russian and French diplomatic missions in Ankara traded barbs on social media over the ongoing war in Ukraine amid the war’s anniversary. The dispute, which drew attention from Turkish users, shifted from geopolitical accusations to historical insults and the use of emojis.