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.
The central bank kept its benchmark policy rate unchanged at 37% for the third consecutive meeting on June 11, matching the consensus forecast of economists. The Monetary Policy Committee also held its overnight lending rate at 40% and its borrowing rate at 35.5%. The central bank last altered its policy rate in January with a 100-basis-point cut.
Engineers at Turkey's first nuclear power plant have finished a critical test as part of preparations for the launch planned by the end of 2026, the Energy Ministry said. Technicians successfully loaded 163 simulated fuel assemblies into the reactor pressure vessel of the first unit at the Akkuyu Nuclear Power Plant. The operation is a major milestone in the launch of the country’s first nuclear power facility.
Cyprus is preparing for a summer of diplomatic activity unseen for a long time, as UN Secretary-General Antonio Gueterres makes a last push to solve the decades-old problem before the end of his tenure in December.
Questions about the future of Turkey-Armenia normalization have grown after Turkish Foreign Ministry removed key wording from its statement on Armenian elections, putting pressure on Armenia rather than also pushing Azerbaijan and it took President Recep Tayyip Erdoğan four days to congratulate the Armenian prime minister on his election win.
President Recep Tayyip Erdoğan is set to inaugurate Ankara's newly overhauled Etimesgut airfield on June 15, just weeks before the NATO Leaders Summit. But whether Air Force One can use it — particularly for takeoff — may depend on which way US President Donald Trump is headed.
Allegations of ill-treatment, strip searches and prosecutorial threats dominated this week's hearings at the Istanbul Municipality corruption trial, as defendants described abusive detention conditions and coerced statements.
Tom Barrack, now appointed as special envoy to Iraq in addition to his ambassadorial role in Turkey and special envoy role in Syria, described Iraq, Syria, and Turkey as 'the strategic fulcrum upon which any enduring Middle East stability must pivot,' calling for a single, consistent point of American contact across the three nations.
As Armenia heads toward the pivotal June 7 elections — widely seen as critical for the continuity of Prime Minister Nikol Pashinyan’s peace agenda — Turkey has accelerated the normalization process, while Russia has intensified pressure on Yerevan through sanctions.
One of the most concrete steps yet in the normalization process between Turkey and Armenia—launched in 2021—has been taken with a move toward direct trade between the two countries. Armenian Prime Minister Nikol Pashinyan is heading into a June 7 election widely seen as a vote of confidence on his parallel agendas of steering the country toward the West while pursuing peace with Azerbaijan and normalization with Turkey. Turkish Foreign Ministry spokesperson Öncü Keçeli announced on X on May 13 that bureaucratic preparations for the launch of direct trade between Turkey and Armenia had been completed as of May 11.
President Recep Tayyip Erdoğan has fueled hope for progress in the Kurdish process but his stance doesn’t amount to real movement, according to the DEM Party. Soon after dismissing claims of a deadlock in the "Terror-Free Turkey" process as "noise" at the April 23 reception, Erdoğan reiterated that the process is advancing as intended and urged all actors to act responsibly during a turbulent regional period.
Fifteen more pre-trial defendants were released in the corruption case targeting the Istanbul Municipality, including Adem Soytekin, a businessperson who applied for leniency under Turkey's remorse law, as the war of words between President Recep Tayyip Erdoğan and main opposition CHP Chair Özgür Özel showed no signs of abating over the case.