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Free AccessZelensky Thanks Erdogan for Closing Bosphorus to Russia, But No Official Confirmation Noted
LOCAL NEWS
- Zelensky thanks Erdogan for his support in closing the Black sea to new Russian ships entering via the Bosphorus strait. However, Turkey has yet to officially confirm the closure and enforcement of the Montreaux doctrine that allows Turkey to control passage via the strait. Ships can be retuned to base via the strait according to the doctrine, however.
- Experts say that the Black sea fleet is unlikely to need additional support and may ask Turkey to close the strait for Ukrainian ships, placing Turkey in a difficult position – Ahval
- Erdogan says he will hand pick AKP candidates for the 2023 Parliamentary elections as he moves to increasingly authoritarian polices on the back of increasing support for the opposition alliance.
- Party insiders say they are taking precautions against losing the parliamentary majority. They also said Erdogan is dissatisfied with his deputies and has told many to toe the party line – Duvar
- Russia-Ukraine crisis to send cooking oil, cereal prices to new highs due to its import exposure in corn, wheat, barley & sunflower seeds to both markets. Turkey imports $29bn from Russia every year & $4.5bn from Ukraine and exports $5.8bn to Russia, $2.9bn to Ukraine.
- Experts say the only way to combat the knock-on effects is to shift to self-sufficient agricultural policies – requiring government support for farmers and bread prices – Duvar*
- Link: https://www.duvarenglish.com/russia-ukraine-crisis...
Events:
- 0800GMT: Erdogan speaks ion Ankara & hosts cabinet meeting 1200GMT
- Opposition parties meet to sign joint roadmap to parliamentary system for 2023
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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.