Categories: Economy

Turkey Suspends Trade with Israel: End of $6.8 Billion Trade Deal as Diplomatic Tensions Rise

In 2023, the value of trade between Turkey and Israel was 6.8 billion dollars with Turkish exports to Israel amounting to about 5.4 billion dollars. However, as reported by Bloomberg, Turkey has suspended all exports and imports with Israel since Thursday. Two Turkish officials who chose to remain anonymous confirmed the end of trade between the two countries.

The conflict in Gaza led to trade restrictions between Turkey and Israel in early April when the Turkish Ministry of Trade prohibited the export of certain materials and products to Israel. Israeli Foreign Minister, Israel Katz, criticized President Erdoğan for violating agreements by blocking Israeli exports and imports, calling it dictator-like behavior.

The relationship between Turkey and Israel has been strained in recent years due to diplomatic recalls and evictions that occurred between the two countries in 2018. Though relations were normalized in 2022, the war in Gaza further worsened ties. As a result, Israel withdrew its diplomats from Turkey last October after President Erdoğan accused Israel of acting like war criminals.

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Samantha Johnson

As a passionate content writer at newschemical.com, my name is Samantha Johnson. With a background in journalism and a keen eye for storytelling, I craft compelling articles that captivate and inform our readers. From breaking news to in-depth features, I strive to deliver content that is not only engaging but also insightful. With a love for words and a dedication to accuracy, I work diligently to keep our audience informed and engaged with the latest stories and trends. Join me on this journey through the world of news and knowledge at newschemical.com.

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