Why is the Turkish lira fluctuating?

The fifty-eight-day interval between the assassinations of HAMAS Political Bureau Chief Ismail Haniyeh in Tehran and Hezbollah leader Hassan Nasrallah in Beirut has highlighted a complex web of regional loyalties and diplomatic pragmatism. The divergent responses of Turkey’s leadership to these two events underscore the nuanced, if precarious, nature of Turkey’s political maneuvering in the Middle East.

The assassination of Hezbollah’s leader, Sheikh Hassan Nasrallah, has sent shockwaves throughout the region, particularly in Iran, where officials have vowed a swift and forceful response. The incident has led to an outpouring of condemnation and a tightening of security measures within Iran, raising concerns about a potential escalation in the conflict between Iran and Israel. The elimination of a key figure like Nasrallah has ignited debates within Iran over its foreign policy stance and the future of the country's involvement in regional conflicts.

The recent targeted elimination of Hassan Nasrallah, the Secretary-General of Hezbollah, has sent shockwaves through the Middle East and raised serious questions about the future of the organization and the region. The covert operation, which took place near the outskirts of Beirut, reportedly involved a precise drone strike coordinated by intelligence services.

Since the time when President R.T. Erdoğan referred to Trump as 'my friend Donald,' he has not been able to visit the U.S. on an official trip. Therefore, speaking at the 79th session of the UN General Assembly on September 24 (New York, September 24-30, 2024), he used the UN platform to address many pressing issues (the situation in Palestine, Ukraine, etc.), and his speech was met with enthusiastic applause. He also lamented the fact that the U.S. supports 'terrorist organizations,' imposes restrictions on Turkey's defense industry, but added that he is quite optimistic about the possibility of increasing the level of foreign trade turnover between the U.S. and Turkey from the current $30 billion to $100 billion.