Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
For nearly half a million retail investors caught in Turkey’s worst financial storm in years, compensation has finally begun to flow. But the first cash distributions came as the fallout spread beyond Turkey’s borders: global index provider MSCI froze index changes for Turkish equities on Oct. 15 and warned of a possible downgrade, while prosecutors broadened their probes and lawmakers scrambled to pass emergency legislation.
Israel strikes near the Turkish border, a message thinly veiled, Barrack says Netanyahu wanted Ankara provoked, not just derailed.
Following the suspension of the Paris talks by the Damascus government, the SDF, which advocates decentralized government in Syria, increased its activity in Raqqa, Aleppo, Deir ez-Zor, and along the Turkish border after holding a conference in Hasakah with prominent Druze and Alawite figures, Turkish state-owned Anadolu News Agency reported on Sept. 5.
“It has been assessed that the life raft, having exited its housing, came into contact with the left tail-fuselage section of the aircraft, causing damage to the aircraft’s horizontal and vertical stabilizers, which may have led to the aircraft’s crash,” a Defense Ministry official said on the C-130 military aircraft that crashed on the Georgia-Azerbaijan border on Nov. 11, 2025.
NATO promptly reacted by condemning Iran after a missile targeted the Turkish border, saying: “We condemn Iran’s targeting of Türkiye. NATO stands firmly with all Allies, including Türkiye.'
Turkey and Armenia appear closer to normalization, with the launch of direct flights by Turkish Airlines and plans to open border gates. Armenian Prime Minister Nikol Pashinyan said he expects tangible progress “within a short period” on reopening long-closed land borders and increasing flights between Istanbul and Yerevan.
Turkey joined Damascus, welcoming the victory of Syrian government forces and the defeat of the Syrian Democratic Forces (SDF), which further strained the ongoing peace process. Tensions in the political arena rose after a Turkish flag was brought down during the DEM Party’s group meeting in the border town of Nusaybin, neighboring Qamishli. The name of the person who brought down the Turkish flag was not shared by the government, but an investigation was launched, while the DEM Party described the incident as a provocation, recalling similar instances from the past.
Turkey is tightening border security in the east in case of a wave of people fleeing turmoil in Iran.
The National Solidarity, Brotherhood and Democracy Commission postponed its meeting scheduled for Nov. 13 for a second time after a Turkish military cargo plane crashed near the Georgia–Azerbaijan border, but the second postponement is now delaying the commission’s roadmap as well.
The term of the presidential motion authorizing the deployment of Turkish Armed Forces in Iraq and Syria to combat terrorist organizations and the acceptance of foreign troops in Turkey has been extended for another three years.
Foreign Minister Hakan Fidan said that Turkey does not act with hostility unless it faces hostility, stressing that Ankara will not step back if targeted. Commenting on President Recep Tayyip Erdoğan’s recent statement that “if the sword leaves the sheath, there is no need for words,” Fidan said Turkey will not wait for a threat to materialize across its borders. “We do not threaten unless threatened. If we are faced with hostility, we will not retreat,” he said.
A joint Turkish-UAE-Chinese venture is set to launch a comprehensive digital banking and payments platform in Turkey, marking an unusual cross-border collaboration that includes players from both the Gulf and China.