Russian nationals who have left their country and relocated to Turkey are racing to open bank accounts in an effort to avoid sanctions levied by Western nations in the wake of Moscow’s invasion of Ukraine. According to local reports, there has been a significant increase in demand from Russian citizens seeking to open bank accounts…
Russian Nationals in Turkey Racing to Open Bank Accounts to Protect Savings Against Sanctions
March 16, 2022
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Ford to Sell Romanian Plant to Turkish Joint Venture
Ford Motor Co.’s Turkish joint venture will buy the U.S. company’s Craiova plant in Romania for 575 million euros ($630 million) and plans to move Courier van production there, the company said on Monday. Ford Otosan, the joint venture with Turkey’s Koc Holding, will pay an additional 140 million euros to Ford over the next…
Ducks, Dung, and Hay in Eastern Turkey
I’m in Kastamonu, five hours northeast of the Turkish capital of Ankara. It’s a town that has yet to figure out the business of tourism. The business hotel where I’m staying is cheap and comfortable, but not slick. I hand a postcard to the boy at the desk, hoping he can mail it for me….
Tanker Ship Hit by Missile Off Coast of Ukraine, Injuries Reported: Officials
Moldova’s national naval agency said that a ship “neutral waters” of the Black Sea was struck by a missile, leaving two crew members seriously injured. The country’s Naval Agency said in a statement that it’s not clear what country fired at the Moldova-flagged Millennial Spirit on Friday. “A fire broke out onboard the ship; the equipment and…
Turkish-Owned Ship Hit by Bomb in Near Ukraine: Officials
A Turkish-owned vessel was struck by a bomb near Ukraine’s port city of Odessa on Thursday, said the Turkish Maritime General Directorate. They said that there were no casualties, according to Turkish officials. The ship was en route to Romania waters, they said. “Upon information that the Marshall Islands-flagged Turkish-owned Yasa Jupiter ship was struck…
Turkey to Lower Taxes on Basic Foods to Fight High Inflation
ISTANBUL—Turkey’s president announced a significant reduction in taxes on basic food supplies Saturday as the country faces rampant inflation and numerous protests over eroding living standards. President Recep Tayyip Erdogan said the value-added tax would be lowered to 1 percent from 8 percent on food purchases. His decision will be published in the Official Gazette…
Turkey’s President Erdogan Tests Positive for COVID-19
Turkey’s President Tayyip Erdogan said on Saturday that he had tested positive for the Omicron variant of COVID-19. “The result of our COVID-19 tests done after showing mild symptoms with my wife came back positive. Thank god we are going through Omicron variant of the disease mildly,” Erdogan said in a tweet, shortly after addressing…
Turkey: 19 Migrants Now Found Dead at Border With Greece
ISTANBUL—Turkish authorities on Thursday found seven more dead bodies near Turkey’s border with Greece, raising to 19 the number of migrants who have frozen to death at the frontier. Turkey has blamed Greece for the deaths, accusing Greek border guards of illegally pushing the migrants back over the frontier. Greece has strongly rejected the accusation….
Turkey’s Inflation Surges to 48.7 Percent as Erdogan Prepares to Slash Interest Rates Again
Turkey’s annual inflation soared to a 20-year high of 48.69 percent in January, according to data from the Turkish Statistical Institute (TUIK), as President Tayyip Erdogan continues with his unorthodox approach of lowering interest rates in the face of rising inflation. Consumer prices jumped 11.1 percent from the previous month, and by 48.69 percent from the same time in January last year, up…
Oil Flow Resumes at Iraq-Turkey Pipeline Following Blast
ANKARA, Turkey—A pipeline that carries oil from Iraq to world markets resumed operating Wednesday after an explosion in southeastern Turkey forced it to shut down for several hours. No one was hurt in the explosion late Tuesday near the town of Pazarcik in Kahramanmaras Province. The blast caused a huge fire, and authorities also closed…
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