Foreign Minister Hakan Fidan joined talks in Pakistan with Saudi, Egyptian, and Pakistani counterparts, with initial discussions focused on proposals to reopen the Strait of Hormuz to shipping.

US State Department Condemns Attack on Kurdistan Region President Barzani's Residence

US State Department condemned drone attack on Kurdistan Region President Nechirvan Barzani's private residence in Duhok as despicable assault on Iraq's sovereignty and stability.

Defense Minister Güler Speaks With Acting Iranian Counterpart on Defense Cooperation

Defense Minister Yaşar Güler held phone talks with acting Iranian counterpart Brig. Gen. Majid Ebnelreza on bilateral defense cooperation and regional security.

DRIVING THE DAY

SUMMARY: Foreign Minister Hakan Fidan participated on March 29 in Islamabad talks with counterparts from Saudi Arabia, Egypt, and Pakistan aimed at de-escalating the Iran war, with initial discussions reportedly focused on proposals to reopen the Strait of Hormuz to shipping, sources familiar with the matter told Al-Monitor and Bloomberg. President Recep Tayyip Erdoğan declared on March 28 that "the price of this unlawful war is being paid by the entire humanity" and stressed that "we have mobilized all our resources for the establishment of peace," according to the Presidential Communications Directorate. Defense Minister Yaşar Güler held a phone call on March 28 with Iran's acting Defense Minister Brig. Gen. Majid Ebnelreza to discuss bilateral defense cooperation and regional security, underscoring Ankara's direct channel with Tehran even as it coordinates with Gulf capitals. The talks in Pakistan reflect Ankara's positioning as a regional mediator alongside Islamabad, Riyadh, and Cairo as the war enters its second month with mounting civilian casualties and economic disruption across the region. END SUMMARY.

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Foreign Ministry spokesperson Öncü Keçeli condemned Thursday's drone attack on Turkish-operated vessel ALTURA near Bosphorus. Russia reportedly earns $760 million daily from oil exports as Iran conflict lifts prices.

Turkish Technic Signs Component Support Deal with Uzbekistan's Centrum Air for Airbus Fleet

Agreement covering Centrum Air's Airbus A320 fleet marks Turkish Technic's first partnership with an Uzbekistan-based carrier, expanding regional aviation services footprint.

DRIVING THE DAY

SUMMARY: President Recep Tayyip Erdoğan on March 26 condemned the US-Israeli war on Iran while emphasizing Turkey "will not remain silent" as Israel "plunges the region into bloodbath," though Ankara continues back-channel mediation efforts between Washington and Tehran according to AKP officials. Separately, Transport Minister Abdulkadir Uraloğlu confirmed on March 26 that a memorandum has been reached on the Zangezur Corridor linking Turkey and Azerbaijan through Armenia, with construction expected to begin soon and completion targeted in four to five years. Turkish Technic signed a long-term component support agreement with Uzbekistan's Centrum Air covering its Airbus A320 fleet, marking Ankara's first partnership with an Uzbek carrier and reflecting Turkey's push to deepen Central Asian ties. The MoD confirmed March 26 that NATO plans to establish a new multinational corps headquarters in Turkey, a process that began before the Iran conflict and is unrelated to regional tensions. END SUMMARY.

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Transport Minister Abdulkadir Uraloğlu confirmed a Turkish-operated tanker carrying Russian crude oil from Novorossiysk was hit by a suspected naval drone near the Bosphorus Thursday morning. All 27 Turkish crew members are safe, engine room damaged.

Turkey Relaying Messages Between US and Iran to Encourage De-Escalation

AKP vice chair Harun Armağan confirms Turkey is passing messages between US and Iran to reduce tensions and encourage direct negotiations, also conveying messages to Gulf states amid war escalation.

Turkish Defense Minister Signs Eurofighter Support Agreement With UK in London

Defense Minister Yaşar Güler and British Defense Secretary John Healey signed training and support deal for Turkey's purchase of 20 Eurofighter Typhoon jets, advancing last year's $11 billion defense agreement.

DRIVING THE DAY

SUMMARY: A Turkish-operated oil tanker carrying Russian crude was struck by a suspected naval drone in the Black Sea near the Bosphorus on March 26, damaging the engine room but causing no injuries to the 27-member Turkish crew, according to Transport Minister Abdulkadir Uraloğlu. AKP foreign affairs vice chair Harun Armağan publicly confirmed Turkey's intermediary role between the United States and Iran, stating Ankara "is playing a role passing messages" to encourage de-escalation and direct negotiations. Energy Minister Alparslan Bayraktar denied reports of Iranian gas supply disruptions, asserting Turkey's Middle East oil dependence stands at just 10 percent. The EBRD warned the Middle East conflict could slow global growth by at least 0.4 percentage points and raise inflation by over 1.5 points if oil prices remain above $100 per barrel and supply chain disruptions persist. END SUMMARY.

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Turkey Exporters Assembly President Mustafa Gültepe reported 39 percent drop in Gulf exports in first 12 days after February 28 strikes. Rising energy and logistics costs add economic pressure amid Iran war disruption.

Central Bank Warns of Potential Rate Hikes If War Worsens Inflation

TCMB told Finance Minister Mehmet Şimşek it could tighten monetary policy again if inflation outlook deteriorates due to Iran war energy price surge. Warning adds new economic risk layer amid regional conflict.

DRIVING THE DAY

SUMMARY: Turkey faces mounting economic pressure from the Iran war after QatarEnergy announced on March 20 that damage at its Ras Laffan LNG complex will cut export capacity by 17 percent for three to five years, causing $20 billion in annual revenue losses and requiring force majeure declarations on long-term contracts — a development that threatens to prolong inflation pressures for Ankara's import-dependent economy. President Recep Tayyip Erdoğan marked Eid al-Fitr on March 20 by performing prayers in his home province of Rize and inaugurating the Hacı İbrahim Demir Mosque in Ankara, while warning that "a destructive war, in which Israel acts as the battering ram, is unfolding in our region." The European Union proposed that Turkey join the Single Euro Payments Area (SEPA), a move aimed at lowering transfer costs and strengthening economic integration, according to EU officials cited by Reuters. Iran's Islamic Revolutionary Guard Corps (IRGC) announced that its spokesperson Ali Mohammad Naini was killed in U.S.-Israeli strikes on March 20, as the conflict entered its 21st day with no clear path to de-escalation despite Israeli pledges to spare energy infrastructure. END SUMMARY.

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Foreign Minister Hakan Fidan joined 11 Arab states in Riyadh statement condemning Iran missile attacks but making no mention of US-Israeli strikes that critics say triggered escalation. Ankara criticized for omitting initial aggressor in joint declaration.

Turkish Exports to Gulf States Fall 39 Percent After Iran Strikes

Turkey Exporters Assembly President Mustafa Gültepe reported 39 percent drop in Gulf exports in first 12 days after February 28 strikes. Rising energy and logistics costs add economic pressure amid Iran war disruption.

Central Bank Warns of Potential Rate Hikes If War Worsens Inflation

TCMB told Finance Minister Mehmet Şimşek it could tighten monetary policy again if inflation outlook deteriorates due to Iran war energy price surge. Warning adds new economic risk layer amid regional conflict.

DRIVING THE DAY

SUMMARY: Turkey faces mounting economic pressure from the Iran war after QatarEnergy announced on March 20 that damage at its Ras Laffan LNG complex will cut export capacity by 17 percent for three to five years, causing $20 billion in annual revenue losses and requiring force majeure declarations on long-term contracts — a development that threatens to prolong inflation pressures for Ankara's import-dependent economy. President Recep Tayyip Erdoğan marked Eid al-Fitr on March 20 by performing prayers in his home province of Rize and inaugurating the Hacı İbrahim Demir Mosque in Ankara, while warning that "a destructive war, in which Israel acts as the battering ram, is unfolding in our region." The European Union proposed that Turkey join the Single Euro Payments Area (SEPA), a move aimed at lowering transfer costs and strengthening economic integration, according to EU officials cited by Reuters. Iran's Islamic Revolutionary Guard Corps (IRGC) announced that its spokesperson Ali Mohammad Naini was killed in U.S.-Israeli strikes on March 20, as the conflict entered its 21st day with no clear path to de-escalation despite Israeli pledges to spare energy infrastructure. END SUMMARY.

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Foreign Minister Hakan Fidan joined 11 Arab states in Riyadh statement condemning Iran missile attacks but making no mention of US-Israeli strikes that critics say triggered escalation. Ankara criticized for omitting initial aggressor in joint declaration.

Turkish Exports to Gulf States Fall 39 Percent After Iran Strikes

Turkey Exporters Assembly President Mustafa Gültepe reported 39 percent drop in Gulf exports in first 12 days after February 28 strikes. Rising energy and logistics costs add economic pressure amid Iran war disruption.

Central Bank Warns of Potential Rate Hikes If War Worsens Inflation

TCMB told Finance Minister Mehmet Şimşek it could tighten monetary policy again if inflation outlook deteriorates due to Iran war energy price surge. Warning adds new economic risk layer amid regional conflict.

DRIVING THE DAY

SUMMARY: Turkey faces mounting economic pressure from the Iran war after QatarEnergy announced on March 20 that damage at its Ras Laffan LNG complex will cut export capacity by 17 percent for three to five years, causing $20 billion in annual revenue losses and requiring force majeure declarations on long-term contracts — a development that threatens to prolong inflation pressures for Ankara's import-dependent economy. President Recep Tayyip Erdoğan marked Eid al-Fitr on March 20 by performing prayers in his home province of Rize and inaugurating the Hacı İbrahim Demir Mosque in Ankara, while warning that "a destructive war, in which Israel acts as the battering ram, is unfolding in our region." The European Union proposed that Turkey join the Single Euro Payments Area (SEPA), a move aimed at lowering transfer costs and strengthening economic integration, according to EU officials cited by Reuters. Iran's Islamic Revolutionary Guard Corps (IRGC) announced that its spokesperson Ali Mohammad Naini was killed in U.S.-Israeli strikes on March 20, as the conflict entered its 21st day with no clear path to de-escalation despite Israeli pledges to spare energy infrastructure. END SUMMARY.

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Foreign Minister Hakan Fidan joined 11 Arab states in Riyadh statement condemning Iran missile attacks but making no mention of US-Israeli strikes that critics say triggered escalation. Ankara criticized for omitting initial aggressor in joint declaration.

Turkish Exports to Gulf States Fall 39 Percent After Iran Strikes

Turkey Exporters Assembly President Mustafa Gültepe reported 39 percent drop in Gulf exports in first 12 days after February 28 strikes. Rising energy and logistics costs add economic pressure amid Iran war disruption.

Central Bank Warns of Potential Rate Hikes If War Worsens Inflation

TCMB told Finance Minister Mehmet Şimşek it could tighten monetary policy again if inflation outlook deteriorates due to Iran war energy price surge. Warning adds new economic risk layer amid regional conflict.

DRIVING THE DAY

SUMMARY: Turkey faces mounting economic pressure from the Iran war after QatarEnergy announced on March 20 that damage at its Ras Laffan LNG complex will cut export capacity by 17 percent for three to five years, causing $20 billion in annual revenue losses and requiring force majeure declarations on long-term contracts — a development that threatens to prolong inflation pressures for Ankara's import-dependent economy. President Recep Tayyip Erdoğan marked Eid al-Fitr on March 20 by performing prayers in his home province of Rize and inaugurating the Hacı İbrahim Demir Mosque in Ankara, while warning that "a destructive war, in which Israel acts as the battering ram, is unfolding in our region." The European Union proposed that Turkey join the Single Euro Payments Area (SEPA), a move aimed at lowering transfer costs and strengthening economic integration, according to EU officials cited by Reuters. Iran's Islamic Revolutionary Guard Corps (IRGC) announced that its spokesperson Ali Mohammad Naini was killed in U.S.-Israeli strikes on March 20, as the conflict entered its 21st day with no clear path to de-escalation despite Israeli pledges to spare energy infrastructure. END SUMMARY.

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Foreign Minister Hakan Fidan joined 11 Arab states in Riyadh statement condemning Iran missile attacks but making no mention of US-Israeli strikes that critics say triggered escalation. Ankara criticized for omitting initial aggressor in joint declaration.

Turkish Exports to Gulf States Fall 39 Percent After Iran Strikes

Turkey Exporters Assembly President Mustafa Gültepe reported 39 percent drop in Gulf exports in first 12 days after February 28 strikes. Rising energy and logistics costs add economic pressure amid Iran war disruption.

Central Bank Warns of Potential Rate Hikes If War Worsens Inflation

TCMB told Finance Minister Mehmet Şimşek it could tighten monetary policy again if inflation outlook deteriorates due to Iran war energy price surge. Warning adds new economic risk layer amid regional conflict.

DRIVING THE DAY

SUMMARY: Turkey faces mounting economic pressure from the Iran war after QatarEnergy announced on March 20 that damage at its Ras Laffan LNG complex will cut export capacity by 17 percent for three to five years, causing $20 billion in annual revenue losses and requiring force majeure declarations on long-term contracts — a development that threatens to prolong inflation pressures for Ankara's import-dependent economy. President Recep Tayyip Erdoğan marked Eid al-Fitr on March 20 by performing prayers in his home province of Rize and inaugurating the Hacı İbrahim Demir Mosque in Ankara, while warning that "a destructive war, in which Israel acts as the battering ram, is unfolding in our region." The European Union proposed that Turkey join the Single Euro Payments Area (SEPA), a move aimed at lowering transfer costs and strengthening economic integration, according to EU officials cited by Reuters. Iran's Islamic Revolutionary Guard Corps (IRGC) announced that its spokesperson Ali Mohammad Naini was killed in U.S.-Israeli strikes on March 20, as the conflict entered its 21st day with no clear path to de-escalation despite Israeli pledges to spare energy infrastructure. END SUMMARY.

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Foreign Minister Hakan Fidan scheduled to visit Qatar as part of broader diplomatic push to halt Middle East war escalation, following regional consultations in Riyadh with Saudi, Jordanian, Azerbaijani and Pakistani counterparts.

Turkey Mandates Trade Ministry Clearance for Foreign Military Cargo Transit

Presidential decree requires prior Trade Ministry approval for arms and military goods transiting Turkey from one foreign country to another. Move aims to combat unregistered arms trade and limit Turkey's exposure amid Iran war.

Iraq Resumes Oil Exports Through Turkish Ceyhan Port After Three-Year Halt

Iraq began exporting 250,000 bpd through Turkey's Ceyhan port following Baghdad-KRG agreement, bypassing Strait of Hormuz disruption. Prime Minister Masrour Barzani discussed resumption with Jordan's King Abdullah.

DRIVING THE DAY

SUMMARY: Foreign Minister Hakan Fidan will visit Qatar on March 19 as part of broader regional diplomatic efforts to contain the expanding Iran war, Anadolu Agency reported, following his meetings with Saudi and Jordanian counterparts in Riyadh on March 18 at a regional ministerial gathering convened to address escalating Middle East tensions. Brent crude exceeded $116 per barrel on March 19 — up 8.5 percent — after Iranian strikes caused "extensive damage" to Qatar's Ras Laffan LNG complex and Israel attacked Iran's South Pars gasfield, sending European natural gas futures up over 25 percent and raising acute inflation risks for Turkey's import-dependent economy. President Recep Tayyip Erdoğan on March 18 promised Cyprus that "we are going to have an open and frank discussion with the British government" over the future of the United Kingdom's sovereign bases in Cyprus, describing them as a "colonial consequence." NATO deployed a second Patriot missile defense battery to Incirlik Air Base on March 18, adding to an existing Spanish system. END SUMMARY.

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Iraqi Oil Minister Hayyan Abdul-Ghani announced Iraq will begin direct crude exports from Kirkuk fields to Turkey within a week, bypassing Kurdistan Regional Government and reviving dormant federal pipeline route. Move signals Baghdad asserting control over northern oil infrastructure amid regional war pressures and Baghdad's negotiations with Tehran to secure tanker transit through Hormuz.

Iran Strikes UAE Gas Field and Fujairah Port, Escalating Gulf Energy Attacks

Iran set UAE's Shah natural gas field ablaze with drone strike and hit Fujairah oil port again, halting ADNOC loading operations at the country's only export terminal bypassing Hormuz. Attacks mark first Iranian damage to upstream oil/gas facility in UAE during war, intensifying energy supply disruptions.

Turkey Court Orders Rearrest of Four Accused of Aiding Gülen-Linked Families

Istanbul 15th High Criminal Court ordered rearrest of four people shortly after their release in trial alleging they provided financial assistance to families of individuals jailed or dismissed over alleged Gülen movement links. Move reflects continued judiciary pressure on Gülen-adjacent networks despite previous acquittals.

Former Halkbank Executive Says Ankara Pressured Him to Accuse US Judge of Terrorism Links

Mehmet Hakan Atilla, former Halkbank deputy general manager convicted in US sanctions-evasion case, revealed Turkish officials urged him during trial to accuse presiding judge of Gülen movement ties but he refused. Disclosure reveals Ankara's use of politically charged accusations during sensitive international corruption case.

DRIVING THE DAY

SUMMARY: Turkey sustained its determination to remain outside the expanding Iran war even as the conflict triggered a deepening regional energy crisis directly affecting Ankara's import costs and supply security. Iraq's oil minister announced plans to begin exporting Kirkuk crude directly to Turkey's Ceyhan terminal within one week, bypassing the Kurdistan Regional Government-controlled pipeline that has been offline for over three years — a development that could restore 200,000-250,000 barrels per day to the Mediterranean export route. Turkey joined multiple European NATO allies in rejecting U.S. President Donald Trump's demand for warships to secure the Strait of Hormuz, with the bloc's foreign policy chief Kaja Kallas stating Monday there was "no appetite" to extend the EU's Red Sea maritime mission to the Persian Gulf. Mounting attacks on UAE energy infrastructure — including a drone strike Monday that set the Shah gas field ablaze and halted operations at Fujairah port — underscored the direct economic threat to Turkey's energy security, with oil prices surging above $106 per barrel and U.S. diesel crossing $5 per gallon. END SUMMARY.

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Dubai International Airport temporarily suspended flights Monday after drone strikes, while Fujairah port—UAE's only outlet bypassing Hormuz—was hit again, suspending oil loading operations. Iran continues Gulf-wide attacks despite Trump claiming Tehran wants negotiations.

Israeli Military Launches Ground Operation in Southern Lebanon

Israeli Defense Forces announced limited ground operations in southern Lebanon targeting Hezbollah infrastructure, potentially calling up 450,000 reservists. Foreign Minister Hakan Fidan warned Netanyahu could commit "new genocide" in Lebanon under pretext of fighting Hezbollah.

EU Considers Redirecting Red Sea Mission to Protect Hormuz, Lithuania Urges Involvement

EU foreign policy chief Kaja Kallas proposed redirecting bloc's Red Sea naval mission to Strait of Hormuz, while Lithuanian Foreign Minister Kestutis Budrys said European nations should consider Trump's request for help securing the waterway. Energy ministers meet in Brussels to discuss bloc's response.

Iraq Warns Kurdistan Region Against Involvement in Iran War, Threatens Federal Takeover

Baghdad warned Kurdistan Regional Government not to allow Kurdish groups involvement in war on Iran, threatening Iraqi forces could take control of border areas if KRG fails to prevent it. President Masoud Barzani called for agreement between Erbil and Baghdad amid regional turmoil.

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DRIVING THE DAY

SUMMARY: Turkey sustained its determination to remain outside the expanding Iran war as oil prices surged past $106 per barrel and President Donald Trump demanded NATO allies dispatch warships to reopen the Strait of Hormuz, according to Daily Sabah and Bloomberg. Japanese Defense Minister confirmed Tokyo has no plans to send ships to the Strait despite Trump's pressure ahead of a summit with Prime Minister Sanae Takaichi, while South Korea weighed options and remained "wary of getting drawn into conflict," according to Bloomberg. The European Union (EU) foreign policy chief proposed redirecting the bloc's Red Sea naval mission to protect Strait of Hormuz energy shipments, while Belgian Prime Minister Bart De Wever called for normalizing ties with Russia to secure lower energy prices. Turkish Foreign Minister Hakan Fidan told the Associated Press on March 15 that Iran has signaled openness to back-channel talks despite public denials of responsibility for missiles fired toward Turkey, according to Daily Sabah and Turkish Minute. END SUMMARY.

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Turkish air defenses intercepted a ballistic missile reportedly aimed at İncirlik Air Base, a key NATO and US military facility in southern Turkey. MoD emphasized Turkish ownership and command of the base amid questions about why Russian-made S-400 systems were not used in the interception.

President Recep Tayyip Erdoğan Pursues Intensive Diplomacy to Prevent Iran War Escalation

President Recep Tayyip Erdoğan said Turkey is pursuing intensive diplomacy to prevent escalation of the Iran-centered spiral of violence. He met with UN Secretary-General António Guterres and German Foreign Minister Johann Wadephul as Turkey positions itself as mediator.

Foreign Minister Hakan Fidan Warns Against Iran Regime Change, Calls for Territorial Integrity

Foreign Minister Hakan Fidan warned there should be "no questioning of Iran's territorial integrity and no pursuit of regime change," saying efforts to incite civil war in Iran would be opposed by Turkey. Fidan urged Israel halt attacks on Lebanon "before it collapses."

DRIVING THE DAY

SUMMARY: President Recep Tayyip Erdoğan met UN Secretary-General António Guterres and German Foreign Minister Johann Wadephul on March 13 as Ankara pursues "intensive diplomacy" to prevent escalation of the Iran-centered war, with Foreign Minister Hakan Fidan reiterating Turkey opposes regime change in Tehran and any questioning of Iran's territorial integrity. Turkish air defense systems intercepted a ballistic missile reportedly aimed at Incirlik Air Base in southern Turkey on March 13, according to Kurdistan 24, prompting sirens at the key NATO facility. The Central Bank (TCMB) held its policy rate at 37 percent on March 12 for the second consecutive decision, explicitly citing geopolitical uncertainty and rising energy prices driven by the Iran war as factors clouding the inflation outlook, as Brent crude remains above $100 per barrel. Turkey's Ministry of National Defense (MoD) said March 12 that its air defense system "automatically" selected the "fastest and most suitable" interceptor to engage Iranian missiles earlier this month, addressing public scrutiny over why the Russian-made S-400 system was not deployed. END SUMMARY.

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Iran attacked at least six tankers and energy infrastructure across the Gulf on Wednesday, including two crude tankers in Iraqi waters and fuel storage in Bahrain. Brent crude surged above $107 while IRGC warned world to prepare for $200/barrel oil. IEA said Iran war is causing unprecedented turmoil, hitting 7.5% of global supply.

Pentagon Tells Congress First Six Days of Iran War Cost $11.3 Billion

Pentagon informed Congress the first six days of US war against Iran cost more than $11.3 billion, with total expected to rise as additional operational expenses are calculated. Lawmakers expressed concerns as Trump officials projected $50 billion more may be needed for Iran war funding.

Kremlin Says Next Round of Russia-Ukraine-US Talks May Take Place in İstanbul

Kremlin spokesman Dmitry Peskov said all participants in negotiations on Ukraine have positive attitude towards İstanbul as venue for next round of Russia-Ukraine-US talks. President Recep Tayyip Erdoğan told Ukrainian President Volodymyr Zelensky that Iran conflict must not obstruct Ukraine peace negotiations.

Turkish Airlines Launches Direct Flights to Yerevan Amid Armenia-Turkey Thaw

Turkish Airlines launched direct flights between İstanbul and Yerevan on Wednesday, marking new step in slow rapprochement between Armenia and Turkey, which have never established formal diplomatic relations. The move comes as Yerevan and Ankara pursue cautious normalization after decades of hostility.

DRIVING THE DAY

SUMMARY: Brent crude surged above $100 a barrel and global markets sold off March 12 as Iran escalated attacks on tankers in Iraqi territorial waters and energy infrastructure across the Gulf, marking the most severe oil market disruption on record according to the International Energy Agency. President Recep Tayyip Erdoğan reiterated March 11 his warning that the Iran war "must be stopped before the whole Middle East region is thrown into the fire," as Turkish Airlines launched direct İstanbul-Yerevan flights marking a concrete step in Armenia-Turkey rapprochement. Turkey's external debt stock stood at $520 billion in Q4 2025, the Central Bank (TCMB) reported March 12, as 15 Turkish-owned vessels remained stranded in the Strait of Hormuz and Transportation Minister Abdulkadir Uraloğlu confirmed crews were safe and in regular contact with Ankara. END SUMMARY.

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President Recep Tayyip Erdoğan told Ukrainian President Volodymyr Zelensky that Iran conflict must not obstruct Ukraine peace negotiations.

Erdoğan Aide Who Called Turkey 'At War With Crusaders' Named Vatican Ambassador

President Erdoğan appointed former communications chief Fahrettin Altun as Turkey's ambassador to Holy See, positioning combative propagandist in diplomatic post.

IEA Proposes Record Emergency Oil Stockpile Release as Iran War Chokes Supply

International Energy Agency proposing largest-ever emergency oil reserve release as Iran war blocks Strait of Hormuz, threatening global energy security.

DRIVING THE DAY

SUMMARY: Turkey's retail sales climbed 18.8 percent year-on-year in January, led by food, drink, tobacco and non-food sales, reinforcing Ankara's economic recovery narrative as global markets swing wildly on energy shocks. President Recep Tayyip Erdoğan told Ukrainian President Volodymyr Zelensky in a call March 10 that the conflict in Iran "must not obstruct the peace efforts for Ukraine," marking Ankara's latest attempt to balance regional crisis management against its role in Ukraine diplomacy. Nordic Monitor reported March 11 that Erdoğan has appointed his former communications chief Fahrettin Altun, who said Turkey is "at war with Crusaders," as ambassador to the Holy See, placing one of Ankara's most combative government propagandists in the diplomatic post representing a Muslim-majority country to the center of the Catholic world. MHP leader Devlet Bahçeli accused the US and Israel of driving the region deeper into war, saying the "military and political will of the Zionist-imperialist alliance is steeped in blood, hatred and malice." END SUMMARY.

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Turkey's MoD announced deployment of a US Patriot air defense system to Malatya province near NATO radar base after second Iranian ballistic missile interception in six days. President Recep Tayyip Erdoğan warned Iran against 'provocative steps' while US ordered evacuation of non-essential consulate staff from Adana and advised citizens to leave southeast Turkey. The deployment underscores Turkey's ballistic missile defense gaps and NATO's effort to bolster alliance air defenses.

Halkbank-US Reach Deferred Prosecution Deal on Iran Sanctions Case

US District Judge confirmed Turkey's state-run Halkbank and Justice Department reached deferred prosecution agreement to resolve criminal case accusing bank of helping Iran evade sanctions. The deal, pending judicial approval, removes persistent irritant in US-Turkey relations as Ankara navigates complex positioning between NATO obligations and regional relationships during Iran war.

Turkey Deploys Six F-16s and Air Defense Systems to Northern Cyprus

Turkey's MoD announced deployment of six F-16 fighter jets and air defense systems to Turkish Republic of Northern Cyprus following recent drone strike on island. The move signals Ankara's military posture adjustment as Iran war spillover threatens regional security and carries both defensive and political implications for Cyprus dispute.

Jailed İstanbul Mayor Ekrem İmamoğlu's Corruption Trial Begins After Year in Prison

İstanbul Mayor Ekrem İmamoğlu appeared at Silivri court alongside 400 co-defendants in sprawling corruption case critics say aims to eliminate him as presidential challenger to Recep Tayyip Erdoğan. From prison, İmamoğlu told AFP an 'irreversible process for a change in power has begun.' Hearing suspended shortly after starting.

DRIVING THE DAY

SUMMARY: Turkey deployed a U.S. Patriot air defense system to Malatya province near the Kurecik NATO radar base on March 10 after a second Iranian ballistic missile was intercepted over Turkish airspace on March 9, marking Ankara's first public acknowledgment of defensive reinforcements since the U.S.-Israel war on Iran began. President Recep Tayyip Erdoğan warned Tehran against "extremely wrong and provocative steps" but praised Kurdistan Regional Government authorities for maintaining neutrality, signaling Ankara's attempt to compartmentalize blame and preserve regional ties. The U.S. Justice Department and Turkey's state-run Halkbank reached a deferred prosecution agreement to resolve a years-long criminal case over Iran sanctions evasion, removing a persistent bilateral irritant as Washington seeks Turkish cooperation amid the conflict. The moves underscore Ankara's delicate balancing act—strengthening air defenses and aligning with NATO while avoiding direct confrontation with Iran and preserving diplomatic leverage as a potential mediator. Oil price volatility eased after President Donald Trump said the war could end very soon, though Ankara remains exposed to energy shocks and spillover risks. END SUMMARY.

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Turkey's MoD announced deployment of six F-16 fighter jets and air defense systems to Northern Cyprus following a recent drone attack on the island. The move signals Ankara's military posture adjustment as Iran war disrupts regional security.

İstanbul Mayor Ekrem İmamoğlu Goes on Trial One Year After Arrest

Jailed İstanbul Mayor Ekrem İmamoğlu appeared at Silivri court alongside 400 co-defendants in sprawling corruption case critics say aims to eliminate him as presidential challenger to Recep Tayyip Erdoğan. From prison, İmamoğlu told AFP an 'irreversible process for a change in power has begun' that cannot be stopped.

President Masoud Barzani Condemns Iraqi Militia Drone Strike on Erbil Airport

Kurdistan Region President Masoud Barzani warned 'restraint has limits' after Iranian-backed Iraqi militias killed Erbil airport employee Welat Tahir in drone attack, urging Baghdad and Coordination Framework to 'set a limit to these aggressions.' The strike reflects spillover from Iran war threatening Kurdish security.

DRIVING THE DAY

SUMMARY: Turkey deployed six F-16 fighters and air defense systems to Northern Cyprus on March 9 after a drone strike hit the island days earlier, according to the Ministry of National Defense — Ankara's first overt defensive reinforcement following the March 6 ballistic missile intercept incident. The deployment underscores Turkish concerns that the widening U.S.-Israel war on Iran could spill into the eastern Mediterranean. President Recep Tayyip Erdoğan made no public statement on Iran's selection of Mojtaba Khamenei as the new Supreme Leader — a conspicuous silence given Ankara's sustained mediation posture over the previous week. Istanbul Mayor Ekrem İmamoğlu appeared in court March 9 in a sprawling corruption case critics say is designed to bar him from challenging Erdoğan in the next presidential election. Oil prices spiked past $100 per barrel for the first time since 2022, reaching as high as $119.50 on Brent before G7 reserve-release talk pulled prices back to $106. The energy shock is already hitting Turkish markets and complicating Ankara's balancing act between Tehran and Washington. END SUMMARY.

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President Recep Tayyip Erdoğan conducted multiple phone calls with Saudi Crown Prince Mohammed bin Salman, Qatari PM Sheikh Mohammed bin Abdulrahman Al Thani, and Omani FM Sayyid Badr Albusaidi as part of intensified peace diplomacy following the Iran war's ou…

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