An article in the online edition of the German newspaper Bild attempts to approach the consequences of the Russo-Ukrainian war on the Turkish economy and politics.
According to the report, the Turkish economy is on the verge of collapse, the Turkish currency, the pound, has been falling for years and more and more people in the country can no longer afford to live.
This is one of the reasons why Turkish President Recep Tayyip Erdogan is obviously did not fully support the sanctions against Russia, notes Bild, adding that this makes Turkey the only NATO country that continues to trade with Russia as it did before the war – and could still benefit from the withdrawal of Western companies.
Erdogan is acting as mediator between Russia and Ukraine, speaking only with Putin again on Thursday and inviting him to meet with Ukrainian President Volodymyr Zelenskyy in Turkey.
Ukrainian Foreign Minister Dmitry Kuleba is said to have even wanted Turkey to become one of the guarantors of a possible peace deal with Russia.
Turkish Foreign Minister Mevlüt ÇavuÅŸoλουlu has said that Russia agrees. Erdogan and his country are already benefiting from his role as mediator: Putin’s invasion as a ray of hope for the Turkish economy, Bild notes.
While almost all Western airlines have suspended flights to Russia, the partially state-owned Turkish Airlines continues to fly to destinations there.
Russian malls have already announced their readiness to replace Western clothing and fashion brands with Turkish ones. Other Turkish companies are still operating in the country, others are preparing to enter the market – while one large Western company is closing its stores after another.
The Turkish fast food chain Chitir Chicken, for example, now wants to open branches in Russia. If Russia agrees, a network of 500 to 600 points of sale could soon be set up there, according to the Russian newspaper Izvestia.
The Russian malls therefore agree and want to cede McDonald’s closed areas to the Turks. The Turkish chain could eliminate the American mega-corporation.
However, the Turkish economy at the moment is still suffering en masse from the war. Because it depends on Russia for tourism, energy and food supplies, among others.
The Turks import about 40 percent of their gas and a quarter of their oil needs from Russia – a business that is now almost inaccessible.
For Russian gas alone, the Turkish government expects to spend about $ 40 billion this year – about twice as much as last year.
Russia is also the most important supplier of wheat to Turkey. In 2021, 70% of Turkey’s grain imports came from there. The fact that Russia now wants to limit grain exports could have dramatic consequences for many Turks, raising the prices of bread and pasta.
Source: Capital
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