FM Cavusoglu Doubles Down on S-400s, Says Oligarchs Welcome in Turkey

LOCAL NEWS

• FM Cavusoglu says Turkey will welcome Russian oligarchs as long as any business dealings were within the realms of international law. He also doubled down on the purchase of S-400s, saying Turkey needed air defences and refused to rule out buying a second batch of the missile systems – Ahval
• Russian lawmaker suggests Turkey & Russia settle international trade between their countries in their national currencies instead of USD or EUR. He even suggested bitcoin as a potential option.
  • In the past, Erdogan has broached the topic of trading in TRY & RUB and discussed a settlement system in 2019, including linking Turkey to the Russian equivalent of SWIFT called SPFS – Ahval
• AKP proposes omnibus bill on taxation and state-owned property. The bill calls for amendments to taxation on doctors working in private hospitals, the valuation of immovable state property and VAT law. The move paves the way for the Treasury’s agricultural lands to be leased to private entities – Ahval
• Turkey records tax revenues of 80.6% in 2021, the second lowest collection in 20 years after 80.1% in 2020 due to the covid-19 pandemic. Experts said this was due to the taxes and penalties arising from the high amount of tax inspection reports issued to the issuers and users of nylon invoices, with almost no collection capability, and the tax amnesties that are frequently issued. Uncollectible or impossible receivables are increasing every year. - Dunya

Events:

• Russia-Ukraine talks to be held in Istanbul (Mon-Wed)
• 1300GMT: Erdogan chairs AKP Cabinet meeting & presser following