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Free AccessGerman Chancellor Scholz To Meet With Turkish Pres Erdogan In Ankara
German Chancellor Olaf Scholz will meet Turkish President Recep Tayyip Erdogan in Ankara shortly. The two are expected to deliver a joint presser this afternoon.
- Turkey has so far treaded careful in the war. Ankara maintains close ties with both Ukraine and Russia: Erdogan has voiced support for Ukraine, but also spoken against sanctions on Moscow.
- Last week Turkey emerged as a credible mediator in the conflict, hosting the Russian and Ukrainian Foreign Ministers Sergei Lavrov and Dmytro Kuleba.
- On Friday Erdogan petitioned US president Joe Biden for a lifting of US sanctions on the Turkish defence sector which were put in place following Ankara's purchase of a Russian s-400 missile system. The relationship between Turkey, other NATO members, and Russia is complex and Scholz is likely to press Erdogan for more support with sanctions rather than acting as a neutral actor.
- A further complication is that under the Montreux Convention Ankara has the authority to close the Bosporus during times of war. This could critically affect Russia's ability to maintain operations in Ukraine and Syria but also represents a potential flashpoint between Russia and NATO.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.