Ukraine Counter-Attack Will Have Daunting Consequences for Turkey


kraine’s counterattack in Kharkiv and Kherson doesn’t guarantee the country a victory, but Putin has lost.


  • Putin’s political future is in stake, which means he will redouble his efforts. How?


  • There is the nuclear option, and there is the economic option.


  • The economic option could hurt Turkey significantly. How?


  • EM credit risk premiums will rise faster.


  • Another energy and food stuffs rally is a strong probability in winter months.


  • EU’s recession shapes up to be deeper and longer.


  • Erdogan has high hopes that Putin will bankroll his election campaign, he may be disappointed.


  • US is now more likely to impose sanctions on Turkey for alleged violations of Russia sanctions.



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Published By: Atilla Yeşilada

GlobalSource Partners’ Turkey Country Analyst Atilla Yesilada is the country’s leading political analyst and commentator. He is known throughout the finance and political science world for his thorough and outspoken coverage of Turkey’s political and financial developments. In addition to his extensive writing schedule, he is often called upon to provide his political expertise on major radio and television channels. Based in Istanbul, Atilla is co-founder of the information platform Istanbul Analytics and is one of GlobalSource’s local partners in Turkey. In addition to his consulting work and speaking engagements throughout the US, Europe and the Middle East, he writes regular columns for Turkey’s leading financial websites VATAN and and has contributed to the financial daily Referans and the liberal daily Radikal.