Who really benefits from Turkey-Russia joint fund?
A Turkish construction company, which runs major operations in Russia and was the builder of Erdogan’s controversial palace, figures prominently in a deal to create a joint investment fund between the two countries.
Following President Recep Tayyip Erdogan’s March 10 visit to Moscow, which saw the signing of eight bilateral deals, Turkey’s top economic columnist Tevfik Gungor Uras penned an article headlined “We keep signing deals with Russia.” In a rather sarcastic tone, he listed an array of deals and protocols signed between the two countries in recent years, questioning how much progress was actually achieved on the ground.
According to analysts, the ruling Justice and Development Party (AKP) is scrambling for rapprochement and expanded ties with Russia as its international isolation deepens. This includes intensified efforts on military and diplomatic levels as well as in the economic field.
