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On 4 March 2022, Russian President Vladimir Putin signed into law a bill introducing prison sentences of up to 15 years for spreading "fake news" about Russia's military operation in Ukraine; [14] thousands of Russians have been prosecuted under this law for criticizing the war in Ukraine, [15] including opposition politician Ilya Yashin and ...
Turkey's currency troubles are fuelling worries about a full-blown balance of payments crisis, and as these graphics show, whichever way you look at it, the country's foreign currency reserves don ...
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The buzz of Russian conversation increased in parts of Istanbul and Antalya as the newcomers set up or relocated businesses. But that activity has steadily cooled.
Turkish President Recep Tayyip Erdogan won reelection last month despite a battered economy and a cost-of-living crisis that experts say are exacerbated by his unconventional economic policies.
The currency interventions under Erdoğan administration started as a result of the sale of foreign exchange reserves of the Central Bank of the Republic of Turkey (CBRT). From 2019 to 2020, CBRT sold foreign currency amounting to estimated $128bn to bolster the weakening Turkish lira.
The Russian currency had passed 101 rubles to the dollar, continuing a more than one-third decline in its value since the beginning of the year and hitting the lowest level in almost 17 months ...
After the 2022 Russian invasion of Ukraine began, several European countries stopped buying Russian oil or gas, but Turkey's relations with Russia are good enough that it continues to buy both. [197] [198] Turkey receives almost half of its gas from Russia. [195] As of 2023 wholesale gas is expensive and a large part of the import bill.