Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
Halkbank, the state lender and fourth-largest bank in Turkey by assets, announced that a nine-year-old US criminal case against the bank is getting closer to a complete end. The bank and the US Attorney’s Office for the Southern District of New York submitted a joint plea to the court on June 10, 2026, requesting the dismissal of all charges.
Three weeks have passed since Kemal Kılıçdaroğlu reclaimed the CHP chairmanship by a court order on May 21 and it appears he has consolidated control across all the organs of the party.
In the latest episode of a legal battle between the central government and the opposition-led Istanbul municipality, a Turkish appeals court on June 4 temporarily blocked the transfer of the historic Basilica Cistern, a major tourist attraction of Istanbul, from the municipality to the Directorate General of Foundations.
The Istanbul corruption trial completed its 12th week as plaintiffs continued to withdraw their previous statements and jailed Istanbul mayor Ekrem İmamoğlu celebrated his 55th birthday at the courtroom.
Since the court voided the CHP's 2023 party congress, the main opposition has been unable to untangle the knot — and each new court decision pulls it tighter. The question is whether the party can hold an extraordinary congress to break the deadlock. But the forces shaping what comes next run deeper: when and how the CHP headquarters under Kemal Kılıçdaroğlu, 77, will move to press disciplinary charges, expelling some figures; whether the parliamentary immunity of ousted chair Özgür Özel, 51, and his allies — implicated by recent testimonies from Antalya and Uşak — will be lifted; and when a new party will be established.
Turkey's oldest and main opposition party, the CHP, is now effectively divided in two after a court annulled the party's November 2023 congress and reinstated former chair Kemal Kılıçdaroğlu in place of Özgür Özel. The split became more visible when both camps held rallies simultaneously at 2 p.m. on May 30. Kılıçdaroğlu returned to party headquarters to chants of 'Kılıçdaroğlu, the people's hope' — a stark reversal from just days earlier, when another crowd had branded him a 'traitor' and 'the AKP's hope' on May 24, reacting to the court-ordered change in the party leadership carried out with police support. The first head-to-head show of strength between the two camps laid bare a simple reality: Özel commands greater grassroots support, but Kılıçdaroğlu holds the formal authority to run the party.
Selling pressure intensified on Istanbul’s stock exchange today following a court ruling of "absolute nullity" regarding the main opposition CHP congress. The benchmark BIST 100 index plunged over 6%, triggering a market-wide circuit breaker. The banking index took an even heavier hit, dropping more than 8% to close at 13,163 points.
Mehmet Pehlivan, the detained lawyer for jailed Mayor Ekrem İmamoğlu, drew parallels between their cases and political trials in Brazil in testimony that electrified a courtroom packed with lawyers in Silivri.
As the CHP’s criminal court case on its 2023 party congress nears, speculation that the former administration under Kemal Kılıçdaroğlu will replace the chairmanship of Özgür Özel has resurfaced. President Recep Tayyip Erdoğan’s remarks fueled the flames, as did Kılıçdaroğlu’s snub of Özel at a funeral.
The Istanbul Municipality corruption trial reached its 19th hearing session this week, bringing some of the most dramatic courtroom scenes since proceedings began. Ekrem İmamoğlu, the CHP's presidential candidate and Istanbul's jailed mayor, set the tone for the week. Describing the indictment as "not just garbage but rotten garbage rotting inside garbage," he told the court the case had already collapsed at its foundations: "If the alleged leader of the organization does not even know the alleged members, the whole thing collapses from the start."
"This political case will collapse," Istanbul Mayor and the CHP's presidential candidate Ekrem İmamoğlu declared repeatedly while delivering the last remarks on the 15th session of the corruption hearing. The courtroom was again full like the first days of the hearing as many were expecting a court ruling on release of several defendants. Only 18 of those under pre-trial detention were released, according to the midnight interim ruling. As expected, İmamoğlu’s executive assistant Kadriye Kasapoğlu and low profile figures like the drivers or workers were released but former CHP MP Aykut Erdoğdu was not on the list.
The trial of Istanbul Mayor Ekrem İmamoğlu on corruption charges began on March 9, with the main defendant’s plans to challenge the legitimacy of the trial muzzled by the court and the media. After waiting nearly a year, İmamoğlu and 402 co-defendants — 107 of whom are under pre-trial detention — finally got their day in court. The hearings began with a confrontation between the court and İmamoğlu over his desire to make his case. He was allowed to deliver only a short statement on the second day and may have to wait at least until mid-April — in the best-case scenario — to present his full defense.