Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
The acquisition of French grocery chain Carrefour's Turkish subsidiary, CarrefourSA, by A101's parent company Yeni Mağazacılık, owned by a religious conservative family, has sparked intense online debate over potential restrictions on alcohol sales.
The World Trade Organization (WTO) has ruled against Turkey in a trade dispute brought by Beijing, declaring Turkish tariffs and severe import restrictions on Chinese electric and hybrid vehicles incompatible with global trade rules.
The central bank kept its benchmark policy rate unchanged at 37% during its Monetary Policy Committee meeting on July 23, matching market expectations. However, business leaders are increasingly complaining about high borrowing costs, tight credit restrictions, and falling industrial output.
U.S. Ambassador to Turkey Tom Barrack said that the United States is close to lifting restrictions imposed on Turkey since 2017 after Turkey purchased S-400 systems from Russia. However, the conditions under which the sanctions will be lifted remain unclear.
Ukrainian naval drones struck two ships alleged to be part of Russia’s “shadow fleet” in the Black Sea off the Turkish coast, increasing tension in the shared sea even as the combatants pursue renewed peace talks. The Sea Baby drones hit the oil tankers MT Kairos and MT Virat on Nov. 28. Russia has used hundreds of tankers known as the “shadow fleet” to evade Western sanctions imposed after its invasion of Ukraine, delivering millions of barrels of oil to buyers in breach of those restrictions.