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 - 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 - 05

Turkey: DEIK Entangled in Washington Controversy

The mission of the DEIK today is to reclaim some of Turkey’s international trade and investment portfolio – especially in the Turkic Central Asian republics – that was lost in the 2000s to business interests affiliated with exiled cleric Fethullah Gulen. Established in 1998 to serve as a foreign business facilitator for all Turkish trade,

Turkey - 01

Turkey: Berat Albayrak: Background, Politics and Ambitions

Berat Albayrak is one of the most enigmatic figures in Turkish politics and energy policy. Yet this has little to do with how he interacts with people; to the contrary, he is often described as “charming,” with masterful communication skills. What makes Berat such an enigma is that at the age of 37, he has

Turkey - 05

Turkey: Run-up to the Presidential Referendum: How Turks Will Vote

Turkey’s constitutional amendment referendum is planned for the week of 9-16 April. The referendum is the highest-priority political event in the country this year and will determine whether President Recep Tayyip Erdogan will convert his ceremonial position to an executive presidency. If the referendum succeeds, Erdogan will become both the head of the state and

Turkey - 03

Turkey: Erdogan’s Silent Secular Shift: Meaning for Investors

President Recep Tayyip Erdogan is known as an Islamist leader. He comes from Turkey’s “National Outlook” tradition, which was established in the late 1960s as a Turkish version of the Muslim Brotherhood. The National Outlook movement’s ideological affinity for the Brotherhood continued long into the tenure of the Justice and Development Party (AKP) under Erdogan’s

Turkey - 02

Turkey: The Politics and Economics of Extending Emergency Rule

The state of emergency in Turkey allows the executive to issue statutory decrees, effectively diminishing the role of parliament and the cabinet. It must be renewed every three months and was last extended by another three months on 11 October 2016, coming up for renewal on 19 January. There are both political and economic reasons

Turkey - 02

Will Ankara Mend Ties with Tehran Next?

Following a brief improvement in bilateral relations during Iranian President Mahmoud Ahmadinejad’s tenure, Ankara and Tehran descended into a proxy war with the outbreak of the Syrian civil war in 2011. This deterioration in relations came much to Ankara’s surprise, as the Justice and Development Party (AKP) underestimated Tehran and Moscow’s commitment to Syrian President

Turkey - 01

Turkey: Implications of the Attempted Coup

The Turkish army was dealt a significant blow following last week’s coup attempt. Almost all major army groups, corps and divisions have lost their commanding officers, who were killed, wounded or arrested. In our view, the incident was less a coup attempt than a military mutiny. Little effort was made to seize and control institutions