Second Week of March 2026 – CHP in Silivri

Weekly Turkey Report: Second Week of January 2026 – CHP in Silivri

Executive Summary   

• The CHP held its weekly parliamentary group meeting in Silivri, site of the Marmara Closed Penal Institution where the 402-defendant İBB trial is being heard — including Istanbul Metropolitan Mayor and presidential candidate Ekrem İmamoğlu, one of 106 people currently in pretrial detention.

• Ahead of the hearing, the Silivri District Governorate imposed a ban on protests through the end of the month, and extensive security measures were put in place around the prison complex.

• The Manhattan Federal Court has suspended the Halkbank case for 90 days. The bank will undergo an independent review following allegations of sanctions violations and money laundering, and must demonstrate that it has strengthened its internal controls.

• The Monetary Policy Committee left the one-week repo auction rate unchanged. The Central Bank also held the overnight lending rate at 40% and the overnight borrowing rate at 35.5%.

• On the occasion of World School Meal Day (March 12), the International School Meal Coalition reported that 19.2% of primary and secondary school students in Turkey attend class hungry at least once a week — the worst figure among all OECD member countries.

• A legislative proposal introducing new restrictions on the sale and promotion of alcoholic beverages was submitted to the Grand National Assembly.

Was created problems for Turkey

The war launched by Israel and the United States against Iran has given President Erdoğan greater domestic political maneuverability while pushing Turkey into a zone of considerable economic uncertainty. The conflict has overshadowed the İmamoğlu trial in Silivri — the case failed to generate the public resonance that had been expected. Judges handpicked by the Palace were seen acting to intimidate, discredit, and restrict the defendants’ right to a defense. The proceedings bore a troubling resemblance to the September 12 martial law tribunals of the early 1980s.

Economically, however, Turkey has taken a significant hit. Rising oil prices are widening the current account deficit, while cancellations driven by war anxiety have begun to affect the tourism sector — a key pillar of the government’s economic strategy.

The İmamoğlu Trial (Silivri)

The CHP held its weekly parliamentary group meeting in Silivri, site of the Marmara Closed Penal Institution where the 402-defendant İBB trial is being heard — including Istanbul Metropolitan Mayor and presidential candidate Ekrem İmamoğlu, one of 106 people currently in pretrial detention.

CHP leader Özgür Özel addressed the gathering with the following remarks:

‘‘We are on the march toward power. If we leave our comrades in the hands of these conscienceless individuals as though there were an independent judiciary in Turkey, they win. Just as we saved the homeland and founded the Republic against the whole world without a single nail or bullet to spare, we will accomplish this too. This party will never abandon the struggle, will never cease resisting this unjust fight, and will never step back from its march to power.’’

Ahead of the hearing, the Silivri District Governorate imposed a ban on protests through the end of the month, and extensive security measures were put in place around the prison complex.

The session opened in an atmosphere of tension. As the presiding judge entered the courtroom, İmamoğlu rose to speak. The judge denied him the floor and warned that he would be removed from the room if he continued. When the panel began to leave amid the standoff, İmamoğlu called out: “Didn’t you come here to conduct a trial? You cannot simply walk out like this!” Following objections from members of parliament in attendance, the panel ordered the gallery to be cleared.

During the hearing, gendarme personnel and chairs were placed between İmamoğlu and the defendant’s dock. İmamoğlu objected to being surrounded by soldiers and refused to take his seat.

Investigation into İmamoğlu’s Social Media Account

The Istanbul Chief Public Prosecutor’s Office opened an investigation into the social media account of the Presidential Candidate Office — through which İmamoğlu had been making public statements — on charges of “insulting the President” and “publicly disseminating misleading information.”

MHP Disciplines Aksaray MP

MHP Deputy Chairman Semih Yalçın announced via social media that a disciplinary decision had been taken against Aksaray MP Ramazan Kaşlı. The stated grounds were “conduct incompatible with party discipline and principles.” Yalçın noted that the process would be conducted “prudently” and that the proceeding included a direct call for “permanent expulsion.”

Halkbank Case: Manhattan Federal Court Grants 90-Day Pause

The Manhattan Federal Court has suspended the Halkbank case for 90 days. The bank will undergo an independent review following allegations of sanctions violations and money laundering, and must demonstrate that it has strengthened its internal controls. If the review proves satisfactory, prosecutors will seek dismissal of the 2019 indictment. The parties are proceeding under an arrangement combining a settlement and compliance monitoring.

Halkbank will be required to retain an anti-money-laundering and compliance expert. According to CHP, the agreement contains ten substantive provisions:

-An expert will be appointed to oversee Halkbank’s management.

-This expert will serve as the liaison between the bank and U.S. authorities.

-The expert will review all of Halkbank’s accounts.

-All information, documents, and records requested by the expert will be provided.

-Halkbank will distance itself from the Iranian government, Iranian nationals, and affiliated entities.

-Any request for a financial transaction originating from Iran must be reported to the United States.

-Halkbank will relinquish all claims over Reza Zarrab’s assets. Should the United States freeze or seize those assets, full cooperation will be provided.

-The expert will prepare a report within 90 days.

-Should the expert’s report be unfavorable, Halkbank will be required to provide a written explanation.

-If that explanation is deemed unsatisfactory, the agreement will be void and the case will proceed to trial.

Economic Outlook: War’s Impact on Turkey

Central Bank Keeps Rates Steady (March 12 MPC Decision)

The Monetary Policy Committee left the one-week repo auction rate unchanged. The Central Bank also held the overnight lending rate at 40% and the overnight borrowing rate at 35.5%.

Analysis Prof. Dr. Ali Hakan Kara (Bilkent University / Former Chief Economist, Central Bank):

Prof. Kara assessed the impact of the Middle East conflict on the Turkish economy through the lens of energy prices. He noted that Turkey’s economic strengths provide some buffer against shocks, but warned that if the war is prolonged, serious pressure could build on the current account deficit, growth, and price stability — given the country’s heavy reliance on energy imports and its persistent inflation challenge.

Analysis by Economist İris Cibre

Cibre offered a more pessimistic assessment. She identified two immediate shocks already materializing:

Export exposure: According to February data, roughly 10% of Turkey’s total exports go directly to Saudi Arabia, the UAE, and Iraq — the epicenter of the conflict. Combined with the global economic slowdown already anticipated by forecasters, a sharp contraction in Turkish exports appears unavoidable.

Tourism: Early reservation cancellations for March and April have already accelerated, signaling a meaningful slowdown in tourism revenues — a sector the government has heavily relied upon.

Cibre further highlighted that rising global uncertainty has triggered a “risk-off” posture among foreign investors in Emerging Markets, leading to significant portfolio outflows from Turkey.

Turkey Ranks Last Among OECD Nations for Student Hunger

On the occasion of World School Meal Day (March 12), the International School Meal Coalition reported that 19.2% of primary and secondary school students in Turkey attend class hungry at least once a week — the worst figure among all OECD member countries.

DEVA Leader Babacan Warns of Economic Collapse

DEVA Party Chairman Ali Babacan called on the government to take urgent action, drawing attention to deteriorating economic indicators and a contraction in the industrial sector. Citing factory closures and rising unemployment, he argued that the current trajectory is unsustainable:

9,900 factories have closed. 200,000 people have lost their jobs. If measures are not taken today, Turkey’s economy could face a major collapse within three to five years.

Bahçeli on Kurds and the Middle East

MHP Chairman Devlet Bahçeli issued sharp warnings at his party’s group meeting regarding missile activity and military mobilization in the region. Opposing plans to deploy Kurdish fighters against Iran, he stated:

Our Kurdish brothers are not for sale, not for hire, not hired guns.

DEM Party Co-Chair Bakırhan responded to Bahçeli’s remarks that “Kurds should not serve as mercenaries” with the following:

There are those who insist on lecturing Kurds. Politicians who fancy themselves the guardians of the Kurdish people, and those vile analysts who have made a profession of advising Kurds, should stop constructing sentences of this kind.

New Restrictions on Alcohol Sales and Promotion

A legislative proposal introducing new restrictions on the sale and promotion of alcoholic beverages was submitted to the Grand National Assembly. Under the bill:

Alcohol companies would be prohibited from sponsoring concerts, festivals, and similar events.

The use of alcoholic beverage brands and logos at such events would be banned.

Alcohol advertising in shop windows would be removed.

Enforcement of the nighttime ban on alcohol sales would be delegated to provincial administrative authorities.

EU Visa Liberalization: Only 6 Criteria Remain

European Parliament Rapporteur for Turkey Nacho Sánchez Amor commented on Turkey’s visa liberalization process:

There are 72 benchmarks Turkey is expected to meet for visa liberalization. Of those, only 6 remain outstanding. However, it appears that senior officials are not paying much attention to this matter.