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US sanctions may be serious for Turkish arms industry

Content type:: Expert Briefings
Location:: TURKEY
Keywords associated with this article:: Geographic: Turkey ME/NAF Azerbaijan Cyprus EU Greece NATO Syria Ukraine United States Libya

Topical: economy international relations politics arms defence fiscal foreign policy security border conflict invasion military balance of payments exchange rate foreign trade growth legislation manufacturing sanctions technology
ISSN:: 2633-304X
Citation:: Oxford Analytica (2020), "US sanctions may be serious for Turkish arms industry", Expert Briefings.
https://doi.org/10.1108/OXAN-DB258337

Monday, December 21, 2020

Significance

The 2021 presidential programme forecast domestic content in defence projects reaching 71% and arms exports tripling to USD6.2bn. However, that was before Washington banned export licences and finance to the defence procurement agency and imposed asset freezes and travel bans on Demir and three others, following the purchase of Russia’s S-400 missile system.

Impacts

Turkey risks EU sanctions for prospecting for gas in waters also claimed by Greece and the Republic of Cyprus.
Rising COVID-19 infections and fears of a winter recession and another economic downturn put the 2021 budget in jeopardy.
Reliance on arms imports and foreign licences make the aim of 100% self-sufficiency in advanced technologies by 2023 unlikely.

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Significance

Impacts

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