Turkey - 01

Turkey: German Firms Listed on Terrorism Watchlist: Implications for Investors

On 21 July, Turkey submitted the names of 681 German companies to the Interpol database for “suspicion of terror links.” The list included German economic powerhouses such as Daimler and BASF AG, generating EU-wide diplomatic protests. This incident follows a series of high-profile diplomatic escalations between Ankara and Berlin.

Turkey - 05

Turkey: Daax Corporation Eyes a Piece of the Domestic Gas Market

Daax is appearing more frequently in discussions on Turkey’s gas sector. The company and its CEO, Umit Sonmez Inanc (see our Personality of the Week), featured in Genel Energy’s last four shareholder transactions. On 12 April and 26 May 2017, Inanc personally acquired around 5.08% of Genel’s shares, and Daax purchased another 26.90% on 31

Turkey - 03

Turkey: World Petroleum Congress in Istanbul: Implications for TurkStream

Turkey used this year’s World Petroleum Congress to reassert its longstanding claim of being the best-positioned gas supplier to Europe. Ankara repeatedly emphasized it is better to include Turkey in energy projects than bypass it. Ankara also viewed Secretary of State Rex Tillerson’s presence as an indication of US support for Turkey’s energy hub ambitions,

Turkey - 01

Turkey: Afrin Escalation: Implications for Ankara’s Gambit in Northern Syria

Turkey has been increasing military pressure on Afrin during the past week in order to accomplish two main goals. First is threatening the Syrian Democratic Forces (SDF) and People’s Protection Units (YPG), which Ankara directly associates with the banned Kurdistan Workers’ Party (PKK). Ankara has been aiming to expel the SDF and YPG from the

Turkey - 02

Turkey: Ankara Warms to Moscow with TurkStream Pipeline

Russian President Vladimir Putin called Erdogan on 23 June from an offshore platform near Anapa, on Russia’s Black Sea coast, to signal the start of the TurkStream pipeline. The project’s deepwater phase will cross the Black Sea from Anapa to Turkey’s northwestern port of Kiyikoy. The gas will then be transited overland to Greece. TurkStream’s

Turkey - 01

Turkey: Eastern Mediterranean Energy Activity to Rise Despite Tensions

Last week Minister of Energy and Natural Resources Berat Albayrak reasserted Turkey’s willingness to continue gas exploration in the waters off the coast of Cyprus. He announced his ministry’s plan to buy a drillship to operate in Northern Cyprus’ exclusive economic zone (EEZ) and the Black Sea. Even before acquiring this new ship, Albayrak stated

Turkey - 05

Turkey: Erdogan Balances Between Competing Security Factions

Divisions within the Turkish security apparatus have intensified after the failed coup attempt in July 2016, forming three main factions. They have competing priorities on Syria and Iraq, and tensions between them are spilling over into Turkey’s internal and external security conduct.

Turkey - 03

Turkey: Sovereign Wealth Fund Becoming Pro-Erdogan Political Tool

Turkey’s Sovereign Wealth Fund (TVF) was established on 26 August 2016 as the main financial tool of the government’s “Strategic Investment Plan.” TVF was initially set up under the prime minister’s office, but Erdogan brought it under his purview and it is now run by a small group of presidential advisors.

Turkey - 01

Turkey: Erdogan’s New AKP Committee: Changing Balance of Power

Following the constitutional referendum that narrowly passed on 16 April, President Erdogan became the chairman of the AKP once again on 2 May. He recently promised a “major overhaul” of the party, starting with its Central Steering Committee. The 50-member committee plans and oversees the tasks and priorities of the AKP’s vast political and social

Turkey - 02

Turkey: Erdogan’s White House Visit: Green-Lighting Intervention in Iraq

As Horizon predicted last week, President Recep Tayyip Erdogan ended his 16-17 May visit to Washington, D.C. largely empty-handed on his three main requests: a reversal of the US’ arming of the YPG; the extradition of Turkish cleric Fethullah Gulen; and support for two Erdogan loyalists detained in the US on sanctions evasion charges. Erdogan’s