Qatar’s money trying to prevent Erdogan’s collapse

Noura Bendari

Turkish President Recep Tayyip Erdogan uses his country’s resources to boost his influence. He presents concessions to the Qatari regime, his closest ally at present. This can explain why Erdgaon has decided to sell shares in Qatari institutions to Qatar recently.

Erdogan just wanted to get additional funds from Qatar in order to overcome the financial and economic crises his country is facing.

However, the Turkish opposition is accusing Erdogan of selling his country’s assets to Qatar. Opposition legislators have also called for bringing the Turkish president to account, making Erdogan’s supporters angry.

In Qatar’s hands

The crisis broke out on Nov. 27 when an opposition MP submitted a request to the speaker of parliament for questioning the Turkish president and the prime minister.

He said he would question both top officials over infringements in the construction of a shopping mall in Istanbul.

The MP noted that the Turkish company constructing the shopping mall sold 42% of shares in the mall to a Qatari company for $1 billion.

The Turkish government sold a shopping mall to the Qataris in Istanbul in 2015 when the municipality was still controlled by the now-ruling Justice and Development Party. The street where the mall is located has been since then renamed “Qatar Street”.

Turkish media revealed, meanwhile, that Erdogan had sold the Turkish stock exchange for the Qataris.

This came after the Turkish Sovereign Fund signed an agreement for selling 10% of the shares of the stock exchange to Qatar.

When asked about the deal, Erdogan said it was a positive move that would promote the status of the Turkish Sovereign Fund.