What matters on Tuesday, April 19

Ukraine is working with Turkey as much as possible in the wake of Russia’s invasion and understands – even though it is not happy with – the reality of Ankara’s parallel ties to Moscow, a Ukrainian diplomat told Reuters.  “We would be happy if Turkey joined the sanctions and cut flights from Russia. But we understand this reality,” the diplomat said, ”[…] Instead of criticizing Turkey we are working with the Turkish side as much as possible, and not demanding something improbable.” The diplomat further noted that Turkey is still the only country that has managed to bring together Russian and Ukrainian officials for peace talks.

President Recep Tayyip Erdogan stated at the 15th Traditional Iftar Meal of the AK Party that he regularly talks over the phone with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky. “I mention on all occasions my intention to bring the two leaders together in Istanbul. We’ll continue our work towards obtain a result from the talks in Istanbul with which both the parties and the international society will be satisfied. The territorial integrity of Ukraine must be protected,” President Erdogan said.

The U.S. Department of State said that the meeting planned visit of Foreign Minister Mevlut Cavusoglu to the U.S. to meet with U.S. Secretary of State Antony Blinkenon May 18 will be an important element in the efforts to hold Russia to account for its war against civilians, as well as the government and the state of Ukraine. “I imagine there will be a very full agenda,” spokesman Ned Price said. “Together as NATO Allies and important bilateral partners, there is a range of shared interests that we have with our Turkish partners,” he added.

Turkey continues bilateral trade with Ukraine and Russia and has not restricted these countries, according to Minister of Agriculture and Forestry Vahit Kirisci. “Ukraine alone holds 27.5 million tons of products subject to foreign trade. Ukraine is guaranteeing the price of products such as sunflower seed, sunflower oil, and soybeans at prices 25% lower than the foreign standard. The situation isn’t different in Russia. They’re also stuck. We’ve never restricted to these countries,” Kirisci noted.

Turkey’s benchmark stock index yesterday went up 0.64% to hit a new record high close of 2,510.31 points. After starting the day at 2,502.97 points, the BIST 100 index rose 15.94 points from Friday’s close of 2,494.37 points. Closing the day with a market value of around TRY 2tr, the benchmark index posted a daily trading volume of TRY 47bn.


The Ministry of Treasury and Finance will issue 2-year (728 days) maturity semiannually fixed coupon bonds, reissue 4-year (1,596 days) semiannually fixed coupon bonds, and directly sell 10-year (3,640 days) maturity CPI indexed lease certificates.

The Parliament will kick off discussions over the legislative proposal for the Law on Sports Clubs and Sports Federations.


>> When the first button is wired wrong…

Our Eco Analysis Columnist Alaattin Aktas analyses the reasons behind the surge in residential property prices in the light of the Central Bank’s policy rate.

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