Despite the apparent rapprochement in Russia–Turkey relations, a number of contentious issues between the two States have recently come to the surface. Moscow’s relations with Ankara seem to have lost the relative warmth of the last few years, becoming dominated instead by coldness and mutual suspicion, if not even polarization and confrontation.
The Turkish economy continues to suffer from the effects of the financial crisis that began in 2018 and worsened with the coronavirus pandemic. Among the most prominent manifestations of the crisis are the collapse of the value of the Turkish lira (TL) despite all the measures taken by the Central Bank (TCMB), the decline in foreign investment and foreign financing, and the inability to pay the debts owed by the Turkish government and companies. This paper reviews the reality and indicators of the Turkish economy until the end of September 2020.
Numerous indicators show that Turkey intends to continue its expansion in the region and that this expansion has become part of Turkey’s political and strategic doctrine to consolidate regional influence under the Islamist-leaning Justice and Development Party (AKP) government led by Recep Tayyip Erdogan. This paper sheds light on the incentives and drivers of the Turkish trend towards increasing regional expansion, the constraints and challenges facing it, and its potential consequences and future prospects.
Tensions in the eastern Mediterranean are at their highest in decades following Turkey’s decision to send a research vessel, the Oruç Reis, to prospect for gas and oil in maritime areas which Turkey believes fall within its exclusive economic zone, a claim disputed by both Greece and Cyprus.
The roots of the crisis stretch back several years to when commercial quantities of oil and gas were first discovered in the marine areas off the coast of the two countries. Given the geographic overlap between the two, both Athens and Ankara claimed rights to those resources, which has greatly complicated the issues of sovereignty and economic rights in the exclusive economic zones claimed by both sides.
Before delving into the causes of the dispute — in which Greece and Cyprus together are facing off against Turkey — and the possible outcomes, it will be useful to take a quick look at the history of relations between the three countries, which have so often been characterized by the threat of escalation and a growing sense of hostility.
Turkey is today undergoing significant political turbulence. President Erdogan’s popularity is in decline and the incumbent Justice and Development Party (AKP) appears increasingly vulnerable to
Filter your Search by: