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13 May Briefing Read full brief

An Iran-war current account shock meets a CHP graft scandal in Turkey

Turkey's March current account deficit hit $9.67 billion — the highest since January 2023 — with Treasury Minister Mehmet Şimşek attributing the widening to Iran-war energy and commodity prices and calling the deterioration "temporary and manageable"; anti-Daesh raids across 47 provinces detained 324 suspects, former CHP Uşak mayor Özkan Yalım admitted paying TL 1.2 million to party chair Özgür Özel and bribing delegates to secure Özel's November 2023 leadership election, and Pakistan signalled it may extend its September 2025 Saudi defence pact to Turkey and Qatar.

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Turkey expects wider current account deficit in 2026 due to high energy costs from Iran war

Turkey's current account deficit widened to $9.6 billion in March, the highest monthly gap in three years, driven by a higher trade gap amid soaring energy prices linked to the Iran war. Treasury and Finance Minister Mehmet Şimşek said on Wednesday that the deficit would increase further this year due to elevated energy and commodity prices, but described the deterioration as temporary and manageable. Excluding gold and energy, the March deficit stood at $3.9 billion, the central bank reported.

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Turkey detains 324 suspects in anti-Daesh raids across 47 provinces

Turkish authorities detained 324 suspects in coordinated operations against the Daesh terrorist group across 47 provinces, the Interior Ministry said Wednesday. The raids, conducted with the National Intelligence Organization (MIT), police and prosecutors, targeted individuals wanted by security forces, financial supporters and former group operatives. Security forces seized weapons, ammunition, digital materials and TL 9.67 million ($214,000) in assets.

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Former CHP mayor admits paying party chair Özgür Özel and bribing delegates

Özkan Yalım, the former CHP mayor of Uşak, told investigators he paid TL 1.2 million to party chair Özgür Özel and bribed delegates to secure Özel's election in November 2023. Yalım also admitted to using municipal vehicles and staff for private business, creating fictitious jobs, and converting a Mercedes for Özel at municipal expense. His testimony, made public on Tuesday, follows similar admissions by former Antalya mayor Muhittin Böcek.

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Pakistan may expand defense pact with Saudi Arabia to include Turkey and Qatar, minister says

Pakistani Defense Minister Khawaja Asif said the country may expand its strategic mutual defense agreement with Saudi Arabia to include Turkey and Qatar. The deal, signed in September 2025, aims to reduce dependence on outside powers and bolster regional stability. Asif described the potential expansion as part of a new order in economy and defense.

Day in Review

All Events

Every other event tracked in Turkey, with a one-line preview.

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UN considers fresh peace initiative for Cyprus before Guterres term ends

Greek Cypriot leader Nikos Christodoulides announced that the United Nations is likely to launch a new push to resolve the Cyprus issue before Secretary-General Antonio Guterres' term ends this year. He cited Guterres' encouragement from March discussions with Turkish President Erdogan. Cyprus has been divided since 1974, and the last meaningful negotiations collapsed in 2017. This development signals a potential renewed diplomatic effort to reunify the island.

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Greek Cypriot leader Nikos Christodoulides announced that the United Nations is likely to launch a new push to resolve the Cyprus issue before Secretary-General Antonio Guterres' term ends this year. He cited Guterres' encouragement from March discussions with Turkish President Erdogan. Cyprus has been divided since 1974, and the last meaningful negotiations collapsed in 2017. This development signals a potential renewed diplomatic effort to reunify the island.

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Erdogan visits Kazakhstan for Turkic summit and bilateral talks

Turkish President Recep Tayyip Erdogan arrived in Astana, Kazakhstan on May 13, 2026, for a two-day visit that includes bilateral talks with Kazakh President Kassym-Jomart Tokayev and participation in the Informal Summit of the Organization of Turkic States in Turkistan. The leaders are expected to discuss deepening strategic cooperation in energy, transportation, trade, and defense, with a focus on the Middle Corridor trade route, Caspian transit, and energy security. The visit reflects growing ties between the two Turkic nations amid geopolitical shifts from the Russia-Ukraine war.

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Turkish President Recep Tayyip Erdogan arrived in Astana, Kazakhstan on May 13, 2026, for a two-day visit that includes bilateral talks with Kazakh President Kassym-Jomart Tokayev and participation in the Informal Summit of the Organization of Turkic States in Turkistan. The leaders are expected to discuss deepening strategic cooperation in energy, transportation, trade, and defense, with a focus on the Middle Corridor trade route, Caspian transit, and energy security. The visit reflects growing ties between the two Turkic nations amid geopolitical shifts from the Russia-Ukraine war.

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Türkiye completes bureaucratic preparations for direct trade with Armenia

Türkiye's Foreign Ministry announced on May 13, 2026, that bureaucratic preparations for direct trade with Armenia have been finalized as of May 11, 2026, under confidence-building measures initiated in 2022. The new arrangement permits goods transiting through a third country to list Armenia or Türkiye as the final destination or departure point. Technical efforts to open the common border continue. This step marks progress in the normalization process between the two countries and aims to strengthen economic relations and regional cooperation in the South Caucasus.

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Türkiye's Foreign Ministry announced on May 13, 2026, that bureaucratic preparations for direct trade with Armenia have been finalized as of May 11, 2026, under confidence-building measures initiated in 2022. The new arrangement permits goods transiting through a third country to list Armenia or Türkiye as the final destination or departure point. Technical efforts to open the common border continue. This step marks progress in the normalization process between the two countries and aims to strengthen economic relations and regional cooperation in the South Caucasus.

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Turkey presents post-earthquake reconstruction model to international officials ahead of COP31

Turkey showcased its post-earthquake reconstruction efforts in Hatay to international officials and media as part of preparations for the COP31 climate summit. Environment Minister Murat Kurum highlighted the construction of 455,000 homes and workplaces across 11 provinces since the 2023 earthquakes. International officials praised the speed and scale of the rebuilding, describing it as a model for resilient city development.

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Turkey showcased its post-earthquake reconstruction efforts in Hatay to international officials and media as part of preparations for the COP31 climate summit. Environment Minister Murat Kurum highlighted the construction of 455,000 homes and workplaces across 11 provinces since the 2023 earthquakes. International officials praised the speed and scale of the rebuilding, describing it as a model for resilient city development.

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Enercon to build €50 million wind rotor blade plant in Turkey's Izmir

German wind turbine manufacturer Enercon announced a €50 million investment to establish a rotor blade production facility in Bergama, Izmir, Turkey, creating 700 direct jobs. The plant will produce blades for its E-175 EP5 E2 model, targeting the Turkish market initially and later Eastern and Southern Europe, supporting Turkey's renewable energy ecosystem and local content requirements.

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German wind turbine manufacturer Enercon announced a €50 million investment to establish a rotor blade production facility in Bergama, Izmir, Turkey, creating 700 direct jobs. The plant will produce blades for its E-175 EP5 E2 model, targeting the Turkish market initially and later Eastern and Southern Europe, supporting Turkey's renewable energy ecosystem and local content requirements.

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Turkey and China establish joint working group on urbanization and housing

Turkish Environment Minister Murat Kurum visited Beijing and agreed with Chinese counterparts to set up a joint working group on residential development and urbanization. Discussions also covered cooperation for the COP31 climate summit Turkey will host in Antalya, urban planning, housing policies, and smart cities, with a memorandum of understanding to be signed.

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Turkish Environment Minister Murat Kurum visited Beijing and agreed with Chinese counterparts to set up a joint working group on residential development and urbanization. Discussions also covered cooperation for the COP31 climate summit Turkey will host in Antalya, urban planning, housing policies, and smart cities, with a memorandum of understanding to be signed.

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FAO says COP31 in Türkiye offers key opportunity to address agri-food systems and climate change

FAO Assistant Director-General Viorel Gutu, speaking at the 5th Istanbul International Water Forum, emphasized that COP31, hosted by Türkiye, presents a crucial opportunity to integrate agri-food systems into climate discussions. He highlighted that agriculture accounts for 30% of global greenhouse gas emissions and faces a $1.3 trillion annual financing gap. Gutu called for improved water-use efficiency in agriculture, which currently yields only $0.7 per cubic meter, and urged investment in adaptation and resilience to climate shocks. He also noted that 673 million people faced hunger in 2024 and 2.5 billion lack access to healthy diets, with the global population projected to reach 10 billion by 2050, underscoring the growing urgency to address food systems in global climate policy.

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FAO Assistant Director-General Viorel Gutu, speaking at the 5th Istanbul International Water Forum, emphasized that COP31, hosted by Türkiye, presents a crucial opportunity to integrate agri-food systems into climate discussions. He highlighted that agriculture accounts for 30% of global greenhouse gas emissions and faces a $1.3 trillion annual financing gap. Gutu called for improved water-use efficiency in agriculture, which currently yields only $0.7 per cubic meter, and urged investment in adaptation and resilience to climate shocks. He also noted that 673 million people faced hunger in 2024 and 2.5 billion lack access to healthy diets, with the global population projected to reach 10 billion by 2050, underscoring the growing urgency to address food systems in global climate policy.

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Turkish intelligence captures Moroccan drug trafficker in Istanbul

Turkish intelligence and police arrested Mohamed Boulakhrif, a Moroccan national wanted internationally for drug trafficking, in a joint operation in Istanbul's Şişli district. The suspect, described as a leading Moroccan drug trafficker, used encrypted communication apps to conceal his activities. He is expected to be deported after legal procedures.

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Turkish intelligence and police arrested Mohamed Boulakhrif, a Moroccan national wanted internationally for drug trafficking, in a joint operation in Istanbul's Şişli district. The suspect, described as a leading Moroccan drug trafficker, used encrypted communication apps to conceal his activities. He is expected to be deported after legal procedures.

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Turkey boosts train capacity by 18,664 seats for Eid al-Adha travel

Turkey's Transport and Infrastructure Minister Abdulkadir Uraloğlu announced a capacity increase of 18,664 seats on high-speed, mainline, and regional trains operated by Turkish State Railways (TCDD) to meet surging demand during the nine-day Eid al-Adha holiday. Extra high-speed services will run on the Ankara-Istanbul route on May 23-24 and May 30-31, and 260 additional wagons will be added to other routes. The move aims to ensure safe and comfortable travel for citizens visiting family during the holiday.

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Turkey's Transport and Infrastructure Minister Abdulkadir Uraloğlu announced a capacity increase of 18,664 seats on high-speed, mainline, and regional trains operated by Turkish State Railways (TCDD) to meet surging demand during the nine-day Eid al-Adha holiday. Extra high-speed services will run on the Ankara-Istanbul route on May 23-24 and May 30-31, and 260 additional wagons will be added to other routes. The move aims to ensure safe and comfortable travel for citizens visiting family during the holiday.

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Turkic states adopt declaration to combat trafficking of cultural heritage

Turkic states including Türkiye, Azerbaijan, Kyrgyzstan, Kazakhstan, and Uzbekistan adopted the 'Gaziantep Declaration' at a conference in Gaziantep, committing to strengthen international cooperation against illicit trafficking of cultural property. The declaration emphasizes coordination, information sharing, and capacity building, with observers from Hungary, Turkmenistan, UNESCO, and UNODC. This initiative addresses the transnational crime of cultural property trafficking, which threatens shared historical memory.

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Turkic states including Türkiye, Azerbaijan, Kyrgyzstan, Kazakhstan, and Uzbekistan adopted the 'Gaziantep Declaration' at a conference in Gaziantep, committing to strengthen international cooperation against illicit trafficking of cultural property. The declaration emphasizes coordination, information sharing, and capacity building, with observers from Hungary, Turkmenistan, UNESCO, and UNODC. This initiative addresses the transnational crime of cultural property trafficking, which threatens shared historical memory.

Frequently Asked

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How much did Turkey's current account deficit widen in March 2025?
Turkey's current account deficit widened to $9.67 billion in March 2025, the highest monthly shortfall in three years.
What caused Turkey's current account deficit to increase?
The deficit was driven by a larger trade deficit due to elevated energy and commodity prices linked to the Iran war.
What did former CHP mayor Özkan Yalım admit to investigators?
Özkan Yalım admitted paying TL 1.2 million to party chair Özgür Özel and bribing delegates to secure Özel's election as CHP leader in November 2023.
How many suspects were detained in Turkey's anti-Daesh operations?
Turkish authorities detained 324 suspects in coordinated anti-Daesh operations across 47 provinces.
Which countries may expand their defence agreement with Saudi Arabia?
Pakistan may expand its September 2025 strategic mutual defence agreement with Saudi Arabia to include Turkey and Qatar.