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.
NO DISINFLATION IN SIGHT AS ENERGY COSTS AND EXPECTATIONS SURGE
The government’s efforts to cool down the Turkish economy are falling short as rising energy prices and deteriorating market confidence push inflation targets out of reach.
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.
WALKING ON A TIGHTROPE BETWEEN WASHINGTON AND TEHRAN
The war on Iran has once again revealed the confusing complexities of Turkey’s geostrategic positioning as a middle power between Europe, the Middle East, and Asia.
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.
MILITARY HELICOPTER CRASHED IN QATAR WITH QUESTIONS UNANSWERED
A Qatari Air Force helicopter crashed into the sea, killing a Turkish air defense major, two Aselsan technicians, and four Qatari crew members. Questions remain unanswered, including the type of helicopter, the exact time when it crashed and the site of the crash.
TOP OF THE CLASS LIEUTENANT LOSES CASE TO BE REINSTATED
Ebru Eroğlu, one of five lieutenants expelled from the Turkish Armed Forces (TAF) on the grounds of insubordination for raising their swords in the air and chanting the slogan “We are Mustafa Kemal’s soldiers” during the Military Academy’s swearing-in ceremony on August 30, 2024, lost the lawsuit to return to the military she filed against the Defense Ministry.
U.S.-MADE USV WASHES ASHORE ON BLACK SEA COAST
An unmanned surface vessel manufactured in the U.S. was found washed ashore in the Ünye district of Ordu, on the Black Sea coast, on March 21. An unmanned surface vessel (USV) of unknown origin struck the Altura, a Sierra Leone flagged tanker which is owned by a Turkish company, Pergamon Maritime, on March 26 in the Black Sea, 15 miles off the coast of the Bosphorus Strait.
NATO TO ESTABLISH NEW HQ IN TURKEY
NATO has launched efforts to establish a second headquarters in Turkey, adding to the alliance’s presence and strengthening its posture against threats from the Middle East.
FÜZE / MISSILE
Few Turkish words arrive with less subtlety than füze. Borrowed from the French fusée, it sounds clipped, metallic and modern. It is a word that pierces a sentence rather than softly enters it, except when used in slang. In the mid-20th century, füze was slang for breasts that projected upward; the opposite of pide, or flat, breasts. It is a small linguistic reminder of how the male gaze has long blended the language of warfare with that of desire.
EU SEEKS SHARE OF TURKEY’S PUBLIC PROCUREMENT IN EXCHANGE FOR MADE IN EUROPE STATUS
The European Union has requested full access to Turkey’s public procurement market as a condition for including Turkish goods under the 'Made in Europe' initiative.
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.