Berat Albayrak

October 26, 2021 | Aykan Erdemir |

Landmark Iran Sanctions Ruling Against Turkish Public Lender Builds U.S. Deterrence

A U.S. appeals court ruled on October 22 that Halkbank, a public lender majority-owned by Turkey’s sovereign wealth fund, cannot claim sovereign immunity under U.S. law to scuttle a federal criminal case...

May 13, 2021 | Aykan Erdemir |

Commerce Department Targets Former Turkish Banker for Evading Iran Sanctions

The U.S. Department of Commerce’s Bureau of Industry and Security on May 5 announced it would deny export privileges to Mehmet Hakan Atilla, the former deputy general manager of Halkbank, Turkey’s second-largest...

March 25, 2021 | Mark Dubowitz, Aykan Erdemir

Manhattan Court Gave Erdogan’s Pet Bank a Get-out-of-Jail-Free Card

Turkey’s currency is in free fall. International investors are fleeing the country. Accusations of bribery and support for terrorism abound. And something clearly is rotten at the heart of the Turkish...

January 8, 2021 | Aykan Erdemir, John Lechner

Turkey’s Frantic Gold Rush Points to a Financial Crisis Ahead

As ordinary citizens seek to preserve their wealth, President Recep Erdogan’s Justice and Development Party is finding new ways to take advantage of the gold rush.

November 6, 2020 | Aykan Erdemir |

Turkey Fines Global Social Media Platforms in Desperate Bid to Stifle Online Dissent

The Turkish government announced on Wednesday its decision to fine Facebook, Instagram, Periscope, TikTok, Twitter, and YouTube 10 million liras ($1.175 million) each for failing to comply with a new law...

September 23, 2020 | Aykan Erdemir |

Iran’s Turkey-Based Sanctions-Evasion Scheme More Extensive Than Previously Reported

Iran’s sanctions-evasion schemes involving Turkey “started earlier, lasted longer, extended further, and involved more people and countries” than previously known, according to a series of deeply...

July 10, 2020 | Aykan Erdemir |

COVID-19 and Erdogan’s Power Consolidation

Since the rise to power of the Islamist-rooted Justice and Development Party (AKP) in Turkey in 2002, its leader Recep Tayyip Erdogan has used successive crises as pretexts to consolidate power that has...

June 1, 2020 | Aykan Erdemir, John Lechner

Why Erdogan Won’t Ask the IMF for Help

Turkey's economy is a mess, but its president won't seek an IMF loan because the conditions would mean giving up his extensive patronage network.

April 8, 2020 | Aykan Erdemir, John Lechner

Erdogan’s Response to Coronavirus Will Destroy Turkey’s Economy

Ankara’s finances were weak before the pandemic—but the combination of external debt, a public health crisis, and a president who chooses to protect his reputation rather than his people could spell disaster.

February 14, 2020 | Aykan Erdemir |

Erdogan Plots to Take Over Turkey’s Largest Private Bank – For the Third Time

Turkish President Recep Tayyip Erdogan on Monday reportedly approved plans for Ankara’s Treasury to take a 28 percent stake in Isbank, the country’s largest publicly listed lender. Turkey’s protracted...

November 14, 2019 | Eric S. Edelman, David J. Kramer

Erdoğan’s Undeserving and Underwhelming Visit to DC

Trump’s ongoing bromance with Turkey’s authoritarian leader notwithstanding, Congress and the Administration must act to make clear that the United States isn’t giving Erdoğan a blank check to act in the Middle East.

October 31, 2019 | Aykan Erdemir, Brenna Knippen

Erdogan Continues to Reward Iran Sanctions Evaders

The European Bank for Reconstruction and Development (EBRD) announced yesterday that it will sell its 10 percent stake in the Istanbul stock exchange after Turkey named as its CEO a Turkish banker convicted...

August 20, 2018 | Aykan Erdemir, Merve Tahiroglu

Turkey’s Economy Czar Fails to Save the Lira

With the Turkish lira caught in a downward spiral, millions in Turkey tuned last Friday into the long-anticipated ...

August 10, 2018 | Aykan Erdemir, Merve Tahiroglu

Turkish Economy Minister Fails to Save Currency

With the Turkish lira caught in a downward spiral, millions in Turkey today tuned into the long-anticipated...

August 8, 2018 | Aykan Erdemir, Gonul Tol

U.S. Sanctions on Turkish Ministers Require Recalibration

The Trump administration has now made good on its threat to sanction Turkey if Ankara refused to release an American pastor from custody. In an unprecedented move, the U.S. Treasury Department ...

May 5, 2016 | Aykan Erdemir |

Turkish Prime Minister Falls Victim to Palace Coup

After a week of open strife within the ruling Justice and Development Party (AKP), Turkish President Recep Tayyip Erd...