Five Years After Reconversion: Hagia Sophia Embodies Turkey’s Cultural Crossroads

 

ISTANBUL, JULY 2025 — Half a decade has passed since the iconic Hagia Sophia resumed its role as a working mosque, marking a watershed moment in Turkey’s cultural-religious identity and triggering complex global reverberations that continue to shape geopolitics and heritage diplomacy.

The Turning Point

• Historic Reversal: On July 10, 2020, a presidential decree overturned the 1934 cabinet decision that transformed the 6th-century monument into a museum, reigniting a 1,500-year legacy of faith and conquest.

• Legal Catalyst: Turkey’s Council of State unanimously annulled the museum status after a 2016 lawsuit argued the site’s vakıf (endowment) status under Fatih Sultan Mehmet’s 1453 conquest rendered it inalienably a mosque.

• Symbolic Reawakening: On July 24, 2020, President Erdoğan joined 350,000 worshippers for the first Friday prayers in 86 years, declaring it a "restoration of sovereignty."

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Global Reactions: Divergent Perspectives

1. UNESCO World Heritage Committee

"While respecting Turkey’s sovereignty, we maintain that Hagia Sophia’s universal value demands vigilant conservation. Technical cooperation continues to address humidity control and mosaic protection during worship."
(2024 Monitoring Report)

2. The European Parliament

"The reconversion undermined interfaith dialogue and violated UNESCO conventions. It remains an obstacle to EU accession talks."
*(Resolution 2020/2990)*

3. Stratfor Geopolitical Intelligence

"Ankara weaponized cultural heritage to assert civilizational independence. The move resonated across the Muslim world but fractured relations with Orthodox Christian states."

4. Bloomberg Economics

*"Market jitters proved short-lived. Tourism revenue surged to record levels by 2023, demonstrating ideological decisions can coexist with economic pragmatism."*

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Five-Year Impact Assessment

Dimension	Outcome
Tourism	▶️ 2020-2021: 61% visitor drop (COVID + boycotts)
	▶️ 2024: 5.7 million visitors (pre-2020 avg: 3.7m)
Conservation	✅ Reversible curtains shield Byzantine mosaics during prayers
	⚠️ UNESCO notes "structural stress from footfall density"
Geopolitics	❄️ Frozen cultural cooperation with Greece/Cyprus
	🤝 Strengthened ties with Muslim-majority states

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The Balancing Act: Worship vs. Heritage

Innovative Coexistence Model

• Hybrid Access: Non-prayer hours allow tourist visits free of charge.

• Acoustic Engineering: Sound-dampening systems preserve architectural integrity during calls to prayer.

• Global Pilgrimage: 44% of 2024 visitors came from Muslim-majority nations—a new demographic driver.

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Voices from Istanbul

Emre Tan, Cultural Historian:
"Hagia Sophia mirrors modern Turkey: a palimpsest of empires. Its layers—Orthodox basilica, Ottoman mosque, secular museum, and now dual-function space—reflect our perpetual negotiation between past and present."

Sophia Kazanskaya, Moscow Tourist (July 2025):
"I expected tension, but the atmosphere is reverent. Seeing gold mosaics of Christ beside Arabic calligraphy feels like witnessing history breathing."

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What Lies Ahead

As the dome enters its sixth year echoing with Qur’anic recitations, unresolved tensions persist:

• Diplomatic Costs: No progress on EU cultural partnerships.

• Conservation Debt: $12M UNESCO-funded restoration backlog.

• Symbolic Weight: The site remains a lightning rod in Turkey’s culture wars.

"Hagia Sophia’s reconversion achieved its domestic objective: cementing Turkey’s cultural self-determination. Yet its success as a global heritage site hinges on transcending politics to honor all chapters of its storied existence."
— International Council on Monuments and Sites (ICOMOS)

Sources: Turkish Ministry of Culture & Tourism, UNESCO Technical Reports, Stratfor, Bloomberg Terminal Dat

Turkey Bolsters Offshore Ambitions with $490 Million Deepwater Drilling Fleet Acquisition

 Istanbul, [Date] – Turkish state energy company TPAO has significantly upgraded its deep-sea exploration capabilities with the acquisition of two advanced drilling vessels from Norway, signaling intensified efforts to discover domestic natural gas reserves.

Key Deal Details & Specifications:

• Purchase Price: $245 million per vessel ($490 million total)

• Deployment:

  • Vessel 1: Offshore Libya (supporting existing agreements with Libya's GNA)

  • Vessel 2: Offshore Mersin Taşucu, Turkey (Eastern Mediterranean focus)

• Vessel Specs:

  • Deadweight Tonnage (DWT): 59,200 each

  • Dimensions: 228 meters (length) x 42 meters (width)

  • Drilling Depth Capacity: 12,192 meters (12 km / ~40,000 ft) – world-class capability

  • Crew Capacity: 200 personnel per vessel

• Next Steps: Post-delivery maintenance and preparation in Turkey before deployment.

International Commentary & Analysis:

1. Wood Mackenzie (Energy Research Consultancy):
   "This acquisition aligns with Turkey's strategic push for greater energy security and regional influence. Deploying one vessel near Libya reinforces Ankara's energy partnership with Tripoli, directly challenging the Greece-Egypt-Cyprus axis in the contested East Med. While deepwater exploration is high-risk/high-reward, success near Mersin could materially reduce Turkey's hefty $50+ billion annual energy import bill. The technical capability (12km depth) is impressive." (Source: Wood Mackenzie East Med Energy Update)

2. S&P Global Commodity Insights:
   "The $490 million investment underscores Turkey's commitment to indigenous hydrocarbon exploration despite fiscal pressures. Utilizing modern, efficient vessels improves operational prospects. However, commercial viability hinges on significant discoveries in geologically complex areas. TPAO faces competition from majors with vast deepwater experience. Success could reshape regional gas dynamics, but exploration timelines are long." (Source: S&P Global Platts Analytics)

3. The Institute for Energy Economics and Financial Analysis (IEEFA):
   "While enhancing domestic exploration capacity is rational for an import-dependent nation, the economics remain challenging. Deepwater drilling is capital-intensive with uncertain returns. Turkey's focus should complement, not replace, accelerated investments in renewables and efficiency to address its core energy vulnerability faster and more sustainably." (Source: IEEFA Commentary on EM Energy Investment)

4. Reuters Energy Correspondents (Synthesis):
   "The purchase signals Ankara's intent to actively assert its claims in the Eastern Mediterranean. Deploying near Libya solidifies its position there following the 2019 maritime MoU. The move is likely viewed warily in Athens, Nicosia, and Cairo. Technical capability is no longer the primary barrier; geopolitical stability and commercial discovery are the key uncertainties." (Based on reporting from major energy newswires)

The Analysis: Strategic Significance and Challenges

• Energy Security Imperative: Turkey imports ~75% of its energy needs, creating a massive trade deficit and strategic vulnerability. Finding significant domestic gas is a top national priority. These vessels directly target high-potential (but high-risk) deepwater plays.

• Geopolitical Messaging: The Libya deployment is a powerful signal. It reinforces Turkey's controversial maritime boundary agreement with the Tripoli-based government and asserts its presence in zones claimed by others. The Mersin vessel focuses on exploring Turkey's own continental shelf amidst ongoing disputes with Greece and Cyprus.

• Technical Leap: The 12km drilling depth capability places TPAO firmly in the league of major international operators, enabling access to complex sub-salt reserves previously beyond reach.

• Economic Calculus: $490 million is a substantial investment for Turkey. While justified by potential import savings and geopolitical gains, the commercial success is uncertain. Deepwater exploration carries high failure rates. Significant discoveries are needed to justify the CAPEX and ongoing high operating costs.

• Regional Tensions: Activity near Cyprus or in areas claimed by Greece under disputed EEZ boundaries risks renewed friction and potential counter-moves by other regional players or the EU.

• Timeline: Exploration, appraisal, and potential development take many years. Even a major discovery wouldn't impact imports for at least 5-10 years.

Conclusion:
TPAO's acquisition of two advanced deepwater drill ships represents a major tactical upgrade in Turkey's quest for energy independence and regional influence. While the move demonstrates significant technical ambition and reinforces geopolitical stances in Libya and the Eastern Mediterranean, the ultimate success hinges on commercially viable gas discoveries – a high-stakes gamble in complex geological and political waters. The international energy community recognizes the strategic intent but emphasizes the long timelines, high costs, and inherent uncertainties of deepwater exploration. Turkey's energy future remains heavily dependent on the success of vessels like these.

Turkish Lira Gains Ground in International Trade, Hits Record Volumes

Turkish Lira Gains Ground in International Trade, Hits Record Volumes

Ankara, July 2025– The international use of the Turkish Lira (TL) is showing significant momentum, with trade conducted in the local currency reaching a record high of 700 billion TL in the first half of 2024. This surge highlights growing acceptance of the TL in cross-border transactions, a key goal of Turkish economic authorities.

According to the latest data:

• Exports in TL: 162.3 billion TL

• Imports in TL: 535.8 billion TL

• Total Trade Volume in TL: 700 billion TL (Jan-Jun 2024)

The trend accelerated notably in June, with 29,291 Turkish companies conducting exports in Lira to 164 countries, demonstrating widespread participation beyond large corporations.

International Perspectives on the TL's Rising Role

This shift towards Lira-denominated trade is drawing attention from global financial institutions and analysts:

1. Institute of International Finance (IIF): "The record volume is a tangible indicator of the TL's increasing convertibility in trade finance. While driven partly by regulatory encouragement and specific bilateral arrangements, it reflects a genuine, albeit still developing, market acceptance. Sustaining this requires continued focus on price stability and deepening FX markets." (Source: IIF Emerging Markets Brief, July 2025)

2. J.P. Morgan Emerging Markets Research: "The 700 billion TL figure is impressive growth. This reduces immediate demand for FX for these transactions, easing some pressure on reserves. However, the dominance of imports in the total highlights the challenge: exporters receiving FX still need avenues to hedge or convert efficiently. Long-term success hinges on building deeper and more liquid hedging instruments for the TL." (Source: J.P. Morgan EMEA Currency Outlook, Q3 2025)

3. Capital Economics: "Turkey's push for Lira trade is part of a broader de-dollarization strategy seen in several emerging markets. The H1 numbers show significant traction, especially on the import side. While it mitigates some FX risks for importers, the volatility of the TL itself remains a key hurdle for wider international adoption as a pricing or reserve currency. The sheer number of firms involved in June is a positive signal of broadening participation." (Source: Capital Economics Emerging Europe Update, July 2025)

4. Reuters / International Economic Analysis: "The record TL trade volume signals Ankara's policy to promote the currency is gaining real-world traction. While primarily benefiting Turkish importers by shielding them from direct FX fluctuations on those contracts, the next step is encouraging more exporters to willingly accept TL, which requires greater confidence in the currency's stability and convertibility." (Synthesis of reporting from major financial newswires)

Significance and Outlook

The record-breaking volume of trade conducted in Turkish Lira marks a significant milestone in the country's efforts to enhance its currency's international standing. It reduces direct FX conversion needs for a substantial portion of trade flows and fosters the development of TL-based financial products.

Challenges Remain: Analysts universally point out that for the TL's international role to solidify further, deeper and more liquid hedging markets are essential to manage currency risk. Additionally, sustained macroeconomic stability and lower inflation are critical for building long-term confidence in the Lira beyond regulated trade channels.

Despite these challenges, the H1 2025 data provides clear evidence that the Turkish Lira is becoming a more established player in international trade settlements, moving beyond symbolic use towards meaningful volume.

Is the Turkish Lira Becoming a Trade Currency?

Expert Commentary by Muhittin Çiftçi – Global Currency Brief

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1. Strategic Progress, Structural Challenges

Over 29,000 firms are now engaging in TRY-based trade, a result of strategic partnerships with countries such as Russia, China, and Gulf states. However, macroeconomic vulnerabilities persist, particularly regarding inflation and market depth.

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2. Trade Imbalance: The Double-Edged Sword

In 2024, imports in TRY amounted to 535.8 billion while exports were just 162.3 billion. Importers benefit from exchange rate protection, but exporters face the risk of TRY depreciation and must either hedge or seek government incentives.

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3. Impact on FX Markets

TRY trade provides short-term relief by reducing immediate FX demand. However, the chronic current account deficit remains, especially due to energy and key material imports still priced in USD/EUR.

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4. Key Constraints

TRY suffers from limited global hedging tools, historical volatility, and low liquidity compared to USD, EUR, and CNY. These factors discourage foreign investors and partners from using TRY in larger or long-term contracts.

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5. Regional Role and Long-Term Vision

TRY offers an alternative settlement currency for countries under Western sanctions like Russia. However, without reforms such as stable single-digit inflation and an independent monetary policy, its ambition to become a regional reserve currency is not realistic.

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Conclusion & Outlook

TRY’s use in trade, particularly imports, is growing. Yet, full internationalization requires:

1. Robust financial tools for hedging

2. Macroeconomic stability

3. Exporter incentives

Key indicators to watch include TRY adoption by exporters and the expansion of swap lines.

Former Ankara Mayor Melih Gökçek Issues Public Statement Following Court Ruling

 

ANKARA — Former Mayor of Ankara Metropolitan Municipality (ABB), İbrahim Melih Gökçek, has issued a public statement following the conclusion of a legal process regarding the municipal residence he has been living in.

According to Gökçek, the case stems from Law No. 7061, which allowed residents of public and municipal housing to purchase the properties they were living in. Gökçek stated that he applied to purchase his official residence in line with this law and that his wife legally bought the property from the municipality.

However, a recent ruling by Turkey’s Court of Cassation (Yargıtay) overturned the sale, citing Gökçek’s own signature on the document that initiated the sale process in 2017 as a conflict of interest. The court determined that, despite not having made the final decision, his involvement as a signatory rendered the sale invalid.

Gökçek emphasized that the final decision to sell the property was made by then-Mayor Mustafa Tuna and that the purchase was conducted legally, at a price approximately 10% above the official market value at the time.

"As a result of the court’s decision, the municipality will refund the purchase amount, and I will vacate the property," Gökçek stated.

Despite the unfavorable outcome, Gökçek expressed his continued trust in the judicial system. “Even when verdicts go against us, it is our duty to respect the rule of law,” he said. “My stance is clear: always the law, always justice.”

He also called on other political parties to show similar respect for judicial decisions, especially when rulings are not in their favor.

Addressing frequent claims that he is not being prosecuted, Gökçek stated that such narratives are misleading and politically motivated. “This process once again proves how groundless and deceptive such claims are. Exploiting the justice system for political gain does not serve the truth or the public,” he concluded.