Berliner Boersenzeitung - Turkey breathes easier as Iran-Israel truce eases fallout risk

EUR -
AED 4.313468
AFN 77.598705
ALL 96.698386
AMD 447.792527
ANG 2.102883
AOA 1077.044807
ARS 1692.205144
AUD 1.764354
AWG 2.114155
AZN 2.001365
BAM 1.955767
BBD 2.361861
BDT 143.307608
BGN 1.955767
BHD 0.442093
BIF 3466.042156
BMD 1.17453
BND 1.514475
BOB 8.102865
BRL 6.365607
BSD 1.17268
BTN 106.04923
BWP 15.537741
BYN 3.457042
BYR 23020.795811
BZD 2.358461
CAD 1.618445
CDF 2630.948518
CHF 0.934916
CLF 0.027253
CLP 1069.11676
CNY 8.28573
CNH 8.284609
COP 4466.125466
CRC 586.590211
CUC 1.17453
CUP 31.125056
CVE 110.26316
CZK 24.276491
DJF 208.826515
DKK 7.472132
DOP 74.548756
DZD 152.289758
EGP 55.571073
ERN 17.617956
ETB 183.229742
FJD 2.668303
FKP 0.879936
GBP 0.878351
GEL 3.175767
GGP 0.879936
GHS 13.461775
GIP 0.879936
GMD 85.741137
GNF 10198.829794
GTQ 8.98185
GYD 245.335906
HKD 9.138141
HNL 30.873485
HRK 7.537789
HTG 153.707435
HUF 385.234681
IDR 19536.845016
ILS 3.785271
IMP 0.879936
INR 106.394254
IQD 1536.174363
IRR 49474.161194
ISK 148.465122
JEP 0.879936
JMD 187.756867
JOD 0.832789
JPY 182.950774
KES 151.217476
KGS 102.713135
KHR 4694.921647
KMF 492.719958
KPW 1057.060817
KRW 1732.32708
KWD 0.360233
KYD 0.977284
KZT 611.589793
LAK 25422.575728
LBP 105012.44747
LKR 362.353953
LRD 206.976546
LSL 19.78457
LTL 3.468083
LVL 0.710462
LYD 6.369894
MAD 10.78842
MDL 19.823669
MGA 5194.913303
MKD 61.548973
MMK 2466.385496
MNT 4167.553805
MOP 9.403343
MRU 46.930217
MUR 53.93488
MVR 18.092159
MWK 2033.466064
MXN 21.157878
MYR 4.812408
MZN 75.064681
NAD 19.78457
NGN 1706.088063
NIO 43.15928
NOK 11.906572
NPR 169.679168
NZD 2.023657
OMR 0.451612
PAB 1.17268
PEN 3.948134
PGK 5.054916
PHP 69.43241
PKR 328.640215
PLN 4.225315
PYG 7876.868545
QAR 4.273829
RON 5.092651
RSD 117.378041
RUB 93.579038
RWF 1706.771516
SAR 4.407079
SBD 9.603843
SCR 17.649713
SDG 706.484352
SEK 10.887784
SGD 1.517615
SHP 0.881202
SLE 28.335591
SLL 24629.319496
SOS 668.988835
SRD 45.275842
STD 24310.407882
STN 24.499591
SVC 10.260829
SYP 12986.886804
SZL 19.77767
THB 37.109332
TJS 10.77682
TMT 4.122602
TND 3.428143
TOP 2.827988
TRY 50.011936
TTD 7.957867
TWD 36.804032
TZS 2902.351563
UAH 49.548473
UGX 4167.930442
USD 1.17453
UYU 46.019232
UZS 14127.764225
VES 314.116117
VND 30897.196663
VUV 142.580188
WST 3.259869
XAF 655.946053
XAG 0.018954
XAU 0.000273
XCD 3.174228
XCG 2.113465
XDR 0.815786
XOF 655.946053
XPF 119.331742
YER 280.129715
ZAR 19.820741
ZMK 10572.187233
ZMW 27.059548
ZWL 378.198309
  • RBGPF

    0.0000

    81.17

    0%

  • CMSD

    -0.1500

    23.25

    -0.65%

  • BCC

    0.2500

    76.51

    +0.33%

  • NGG

    0.2400

    74.93

    +0.32%

  • RIO

    -1.0800

    75.66

    -1.43%

  • CMSC

    -0.1300

    23.3

    -0.56%

  • GSK

    -0.0700

    48.81

    -0.14%

  • RELX

    0.1000

    40.38

    +0.25%

  • RYCEF

    -0.2500

    14.6

    -1.71%

  • JRI

    -0.0200

    13.7

    -0.15%

  • BCE

    0.3100

    23.71

    +1.31%

  • AZN

    -0.4600

    89.83

    -0.51%

  • BTI

    -1.2700

    57.1

    -2.22%

  • VOD

    0.0500

    12.59

    +0.4%

  • BP

    -0.2700

    35.26

    -0.77%

  • SCS

    0.0200

    16.14

    +0.12%

Turkey breathes easier as Iran-Israel truce eases fallout risk
Turkey breathes easier as Iran-Israel truce eases fallout risk / Photo: Handout - TURKISH PRESIDENTIAL PRESS SERVICE/AFP

Turkey breathes easier as Iran-Israel truce eases fallout risk

As the fragile Iran-Israel truce took hold, there was no letup in Turkey's diplomatic efforts Wednesday to prevent any return to a conflict fraught with risk for Ankara's domestic and regional policies.

Text size:

Hours after US President Donald Trump announced the ceasefire, Turkey's President Recep Tayyip Erdogan met him for talks on the sidelines of a NATO summit for their third conversation in 10 days.

Erdogan's "intensive diplomatic efforts" to curb the conflict also involved calls with Russia's Vladimir Putin, Iran's Masoud Pezeshkian and top Middle Eastern leaders.

"Turkey has been trying very hard to de-escalate the situation, but it's not seen as a credible mediator, neither by Iran nor by Israel," Gonul Tol of the Washington-based Middle East Institute told AFP.

Turkey's ties with Israel have been shattered by the Gaza war and Iranians see Ankara as complicit "because it hosts this strategic radar", she said of a NATO early-warning system at Kurecik base in eastern Turkey that can detect Iranian missile launches.

Turkey has categorically denied radar data was used to help Israel but its presence has rattled Iran -- with several Iranian military officials warning it could be "the first target" in case of a wider war, she said.

Even so, Erdogan reportedly sought to set up US-Iran talks in Istanbul last week, which only failed because Iran's Ayatollah Ali Khamenei -- in hiding due to assassination threats -- couldn't be reached to approve it, the Axios news site said.

Unsettled by the long arm of Israel's reach, Erdogan upped Turkey's deterrence, ordering the defence industry to increase production of medium and long-range missiles. warning Ankara was "making preparations for every kind of scenario".

"Concerns about a possible Turkish-Israeli confrontation in the short term seem exaggerated... (but) both would be wise to reduce tensions," said Gallia Lindenstrauss, senior research fellow at the Institute for National Security Studies (INSS).

- Fears of Iran in chaos -

For Turkey, the big fear would be seeing neighbouring Iran plunged into chaos as happened in Iraq and Syria, said Soner Cagaptay of the Washington Institute of Near East Policy.

"Ankara absolutely does not want to see Iran descending into chaos, decentralisation or civil war which could create cross-border threats or fresh refugee flows," he told AFP.

In Iraq and Syria, destabilisation had created a power vacuum that was used by the Islamic State (IS) group and Kurdish PKK militants "to launch attacks into Turkey", fuelling Ankara's efforts to support both nations' recentralisation, he said.

But "the biggest risk" would be another flow of refugees: "If Iran collapses, there's only one country the Iranians will flee to in large numbers: Turkey," he said.

On Friday, Erdogan warned Germany's Friedrich Merz the conflict "could harm the region and Europe in terms of migration" although there was no sign of any influx at the Turkish border last week.

- Risk to Turkey's PKK move? -

Turmoil in Iran could also harm Ankara's efforts to draw a line under its decades-long conflict with the PKK, which last month said it would disarm, Tol said.

Although most PKK-linked groups embraced the call to disarm, its Iranian affiliate, the Kurdistan Free Life Party (PJAK), did not, with Ankara concerned any unrest could embolden recalcitrant Kurdish separatists.

"The worry is that this chaos may strengthen the PJAK. There are PKK fractions who are not happy with (founder Abdullah) Ocalan's call who could think: why disarm now when there's so much chaos we can capitalise on," she told AFP.

A more immediate concern for Turkey was the economic implications of the conflict, she said, with its crisis-hit economy already "struggling" with rising energy prices while fighting hard to bring down inflation.

"But if Iran closed down (the Strait of) Hormuz, that would mean a bigger jump in energy prices and that's something Turkey is deeply worried about," she said.

Oil prices spiked during the 11-day conflict as concerns grew that Iran might disrupt supplies passing through Hormuz, peaking on Monday after US warplanes hit Iran.

With the ceasefire taking hold, Turkey was breathing easier Wednesday -- although the Iran-Israel crisis remained high on the agenda at the NATO summit.

(H.Schneide--BBZ)