Turkey's use of court-appointed trustees to oversee private companies has expanded to over 1,100 firms, with the Savings Deposit Insurance Fund (TMSF) controlling assets approaching 1 trillion lira and employing nearly 50,000 people. The system, initially built against Gülen movement assets, is now deployed against political opponents like jailed Istanbul mayor Ekrem İmamoğlu, whose construction company was seized in March 2025 and 52 connected companies placed under trusteeship by June 2025. Critics warn the practice undermines property rights and judicial independence, potentially deterring foreign investment including BYD's planned manufacturing project.

Turkish Foreign Minister Hakan Fidan visited Russia for two days, meeting with President Vladimir Putin, Foreign Minister Sergey Lavrov, and other senior officials. After the talks, he stated that Russia's position on Ukraine remains unchanged, insisting on resolving the 'Donetsk issue' before any settlement. Fidan expressed concern over the recent escalation in the war, including increased attacks on civilians and threats to Black Sea navigation, and called for de-escalatory measures. Turkey reiterated its readiness to host future peace negotiations between Russia and Ukraine, positioning itself as a potential mediator.

Background: The 2026 NATO Summit in Ankara was previously confirmed for July 7-8, with Turkey positioning itself as a mediator and key ally amid transatlantic tensions. Today's development: A new analysis argues that the summit raises questions about Turkey-EU rapprochement, citing obstacles such as EU concerns over Turkey's human rights record, the Cyprus dispute, and recent state interventions in the private sector. The article also speculates that if U.S. President Trump becomes a lame duck after the 2026 midterms, European leaders may target Turkey in retaliation against the U.S.