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Turkey And Russia Create A $1 Billion Join Investment Fund

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Originally appeared at ZeroHedge

Turkey’s Hurriyet Daily has confirmed Russia and Turkey have agreed to create a “Russia-Turkey Investment Fund” following President Recep Tayyip Erdoğan’s visit to Moscow early last week, where he met with President Putin to more broadly discuss technological cooperation, closer military ties and the future of action and local ceasefires in Syria.

The initiative was announced by the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and Turkey Wealth Fund (TWF) last week connected to the summit.

Turkey And Russia Create A $1 Billion Join Investment Fund

Via Russia Business Today

“At the initial stage the investments in the funds’ projects will amount to 200 million euros. The total size of the Russia-Turkey Investment Fund is 900 million euros,” the RDIF said in a statement.

The agreement of the new cooperative venture was signed in the presence of Erdoğan and Russian President Vladimir Putin, and will be central to assisting joint Russian-Turkish projects in the areas of technology, healthcare, and urban infrastructure.

“This is an important milestone for TWF and we believe initiating investments through RTIF in focused sectors will cement the relationship of both sovereign investment funds and further strengthen the relationship between Turkey and Russia,” the managing director of the Turkey Wealth Fund, Zafer Sönmez, said in a media release.

Turkey And Russia Create A $1 Billion Join Investment Fund

President Putin and Russian Direct Investment Fund (RDIF) CEO Kirill Dmitriev, via the Russian Presidency

The TWF is described as follows:

Turkey’s wealth fund, established in 2016, holds the total or part of shares of several Turkish companies such as flag carrier Turkish Airlines, telecommunications giant Türk Telekom, state-owned lenders Ziraat and Halk, Turkish Petroleum and Borsa Istanbul.

Its portfolio also includes the petroleum pipeline company BOTAŞ, the postal services company PTT, and the national lottery Milli Piyango.

According to the fund’s website, its mission is to develop and increase the value of the country’s strategic assets and consequently provide resource for our country’s primary investments.

More broadly, the newly established Russia-Turkey Investment Fund further suggests that Turkey is fast moving into Moscow’s orbit. 

For starters, Putin and Erdogan have already met multiple times this year, which doesn’t bode well for the White House’s ultimatum weeks ago saying that “Turkey must choose.” 

It appears Turkey’s “choice” is becoming evident. Washington and Ankara have been in a diplomatic showdown and crisis surrounding blocked orders of Lockheed’s F-35 stealth fighter due to Turkey’s plan to receive Russian S-400 anti-air defense systems this summer.

Erdogan again affirmed last week amid US ultimatums, “those who ask or suggest we backtrack don’t know us,” and told reporters just after meeting with Putin, “If we sign a deal on an issue, that’s a done deal. This is our sovereign right, no one can ask us to back down.’’

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  • Dušan Mirić

    Бакшиш!
    (Change)

  • paul ( original )

    I will admit that I have always been suspicious of Turkey and unsure if Russia’s attempts to build a relationship were wise. But I have to say that things seem to be developing in a positive way and that this policy may yet prove to be a great benefit to Russia. Certainly if Turkey moves out of the Western orbit then that would an immense benefit to Russia. Things do seem to be moving in that direction but it is too early to be certain.
    May be others would like to comment on this but my fear is that there will come a point when Russia may have to choose between its relationship with Turkey and its relationship with Syria.

    • DontBelieveEitherPropaganda

      Well, Russia does not choose. And they can very well make deals with whomever they want.
      But what frustrates many here me included, that years long there was the Russian narrative to help Syria. Not only to fight and end the terrorists power, but also to defend “the territorial integrity of Syria”. To only “let Syrians decide their future, not outside powers”.
      That what they said for years, and people believed them.

      If Russia would have clearly declared: “Okay, see for us Israel and Turkey are more valuable assets, and we prioritize them. And from defending Syrias integrity we go into making deals at all costs with the same countrys to to this day murder Syrians through proxy or missiles..”
      Then everyone could understand and take things as they are.

      So the illusion that Russia build up through media, SF included has now burstet for most of us.

      That is the problem, the talk and actions are not the same anymore. The difference gets bigger day by day.

      • S Melanson

        Yes. I started raising questions a year ago about Russian duplicity such as saying all foreign forces leave Syria once terrorists defeated, contradicting position that only Damascus decides this. It was also the awkward and clumsy delivery along with the expected sharp rebuke from Iran.

        A year ago, it was rare to question Russian intentions as I did and I did not relish doing so as I admired Russian efforts and have respect for Russians knowing something about their history of hardship. Today, the SF readership, and I include myself, has come a long way in gaining a more balanced view of Russia’s role and I applaud this.

        I have posted critical commentary not to tear down Russia but to push Russian decision makers to think through their policies for the better.

        • DontBelieveEitherPropaganda

          Yeah, that is my point too exactly.
          Blind believing of following is not true support. If you care about someone or something, you NEED to be critical. Critique is the only way to reflect, and without honest critique, it only leads to chaoas and desaster.
          But just like many Amercians, who think patriotism is blindly defending each and every move their politicians, military or whoever in power, it prevents a country to stay healthy, and lets it become rotten in the core.
          Another thing: Critique of Putin, just like critique of the political elite in Russia is NEEDED, if you care about the Russian citizens. My Russian friends are okay with Russians foreign policy (besides the Novorossia, where they like most Russians think that much more support was needed), but the neoliberal policys, the corruption and oligarch friends of Putin, and the relationship with Bibi and Israel are points the greatly critizise.
          Why should i betray my friends by not seeing the negative points? Only someone with no real connection to Russia can be so blind not to see this..
          And again: EVERYONE has good and bad sides.
          If you believe you server Russia in this Info war by blindly believing everything, you only make us all who are fighting against the new cold war make look like true Russian bots. Or idiots, who cant see the nuances between black and white in this life.

      • Sinbad2

        “Russian narrative to help Syria.”

        That is simply not true.
        Russia has always said that if it didn’t kill the terrorists in Syria, they would have to fight them in Russia.

        Stop making things up.

        • DontBelieveEitherPropaganda

          Well, i have been following the Syrian war nearly since the start. And just look at the press releases. Yes, the narrative was also to fight the terrorist in Syria and not at home. And even that is now off the table, with the Idlib deal not following through on what was promised (attacking each and all armed opposition if the are not peaceful).

          But ALSO look at the statements of Lavrov, and Mariya Zakharova.. And then tell me they did not say those quotes i wrote again and again about “the territorial integrity of Syria”. To only “let Syrians decide their future, not outside powers”.

          In the post above where you claim i made things up i wrote:

          “Not only to fight and end the terrorists power, but also to “defend the territorial integrity of Syria”. To only “let Syrians decide their future, not outside powers”. That what they said for years, and people believed them.”

          So the counterpoint you make that Russia said it would only be in Syria to fight the terror, i wrote myself. With the addition of the noumerous statements i also quoted.

          it was excatly my point, that it would be much better if Russia would have been clear in this information warfare that they dont have an allaiance with Syria, and only are there for their fight against terror, not to ally with Syria in a sense like the Soviets did.

          All the frustration of many here, me included, who for years supported the Russian position in this info war would have been avoided.

          But in this times of info war and propaganda, it seems the statements of Lavrov and Zakharova were made to drum up support for the Russian deployement, and strengten Assads position in the public perception, and as messages for the US and NATO.

          The problem partly stems fromt he subtle strugle, that the military in Russia is in with those opposed to a thougher Russian stance. The stavka now seems to have won, finally with more influence on Putin as those who still believe in deals with the US and NATO, who Putin preferred all those years.

          So there are different factions. The millitary mostly wants to give more direct support to Syria and against Israel and NATO, with their opponents in the buerocracy and Putins circle of liberal friends who still believe that the US and Israel could be trusted as “Partner”.

          Its not so easy. Russia is no dictatorship in the common sense. There are different factions batteling over influence, and in the past, the pro-western and liberals mostly had the upper hand in terms of influence on Putins decisisons.
          With that now seemingly slowly changing, there are interesting times ahead.

          One thing left: Please dont label people as liars only because they disagree with you or your world view.. I discuss with anyone, and just like you i defended Russias every move for years. So i understand your position, even though this illusion has already crashed for me. And read what i write before you write the same as i wrote and still believe you say something different…

      • JHK

        Its because Russia knows that fighting terrorism is a shot in the foot, a real pandoras.

        Terrorism is really about corruption, terrorism rises when it smells corruption.

        Russia knows that wiping out Idlib is to cause a raging fire across the ME and Caucases. Russia would have a heyday fighting only Sunnies and never get to fighting nato. It knows this thats why, they are literally taking Turkey as a consultant to help bridge the conflict gap.

    • Sinbad2

      Turkey is vital to the Eurasian empire, if next election the American people elect someone not retarded, I expect Turkey will be invaded freed by the USA.

    • JHK

      There is only the third option, the only way to succeed is with all Axis Members which includes all of Asia, and Rebels to boot.

  • JHK

    Awoo, Awoo, Awoo (international english for Allahu(swt)Akhbar! x3)

    Putin got Erdogan back, Erdogan got HTS back, HTS got Hurras back, Hurras got AQ back.

    Getting ready to crush the jews and romans.

    • DontBelieveEitherPropaganda

      A little Jihadi lover, now are you? As a Japanese? Crazy times indeed..

      • JHK

        Dont believe the propaganda about Jihadis, because when Jihadis are with Jesus(as) and youre not (with jews in europe and north america), the only crazy will be you.

        • DontBelieveEitherPropaganda

          Well, i guess then have fun when you get blown to pieces when you sacrifice for Allah. Your fellow Japanese certainly will be proud of you.. NOT.
          I will watch the video on youtube then i guess!

          • JHK

            Yes, Allah(swt) is greatest.

  • Saddam Hussein

    Seems like Turkey is going full Russia mode after that failed Israeli coup against Erdogan.

    • Sinbad2

      Not Russia mode, Eurasia mode.

      The nations of Asia and some in Europe see Mackinder’s dream of the geographical pivot to the heartland becoming a reality.
      “Who rules East Europe commands the Heartland;
      who rules the Heartland commands the World-Island;
      who rules the World-Island commands the world.”(Mackinder)

      https://en.wikipedia.org/wiki/File:Heartland.png

  • grumpy_carpenter

    The Turkic world lies to the East of Turkey not the west. Looks like both Turkey and Russia are finally learning that the cool kids in the west are happy to use them but will never give them a seat at the table as equals.

    • DontBelieveEitherPropaganda

      Erdogan certainly does NOT want to ally with Russia alone. Or choose, as they said themselves.
      They want to get the benefits from both west and east. And Erdogan is a master of this game, switching back and forth.

      He will NEVER totally break with NATO, because that would mean he would have to totally subject himself to Putins will. And despite all the happy photos and PR, Russia and Turkey have always been opposed, and fought themselves. They may now act pracmatic, but in thruth their interests are opposed greatly in important parts.
      E.g. islamistic terror and Jihadism: Erdogan will always be supporting them, as a muslim brother and islamtistic politician. Russia sees the same Jihadists that Erdogan supports as their biggest threat to national security.
      Those two things will never align, cooperation on economy and on partition of Syria is the most this “partnership” will provide. Sooner of later, the underlying issues will come back, and Erdogan will take the bribe the NATO will offer him.
      Its all a game for him.

      • JHK

        You are the classic example of the switcher between the west and jews and The Axis and Islam.

        But really your real position is where you reside (jewmerica or jewrope).

        • Sinbad2

          What he posted was the truth, and common sense.
          You are probably American and simply don’t understand the world outside of your television.

          • JHK

            Erdogan is doing a great job on behalf of Sunnis, and even Shias, regardless if nonMuslims dont like or disagree with whats going down.

            The entire Axis movement is over the fact that america and europe control two thirds of the worlds wealth.

            Its such a disparity that even Pakistan and India will tolerate each other in order to support Axis

          • DontBelieveEitherPropaganda

            While i agree with you on this post, as a note: He is japanese afaik..

      • grumpy_carpenter

        Islam is a religion …. the Turks are a people who migrated out of China and Siberia 1500 years ago and settled in modern Turkey and went on to lead the Ottoman empire. There are more Turks in China, Central Asia and Russia than there are in Turkey.

        Putin is a Russian but Russia has a large Turkic population .

        Turkey is in NATO and a very important part of NATO contributing the second largest military force in NATO. Turks are good enough to fight and die for Europe but not good enough to be admitted into the EU.

        The strategic balance in the world is changing …. power is moving East. In the past Asia provided raw materials to the west and consumed finished products from Europe. This flow of goods is quickly reversing however the west has no raw materials to send to Asia ….. it’s gonna be one way traffic and Turkey being partly in Europe but mostly in Asia and populated by Asian people sees the writing on the wall.

        Given a choice do you think Turkey is better off as the first line of defence protecting the assets of the wealthy elite of Europe or to be the terminal of the inevitable flow of goods and services into Europe from Asia?

        I know what I would want if I was in their position and that’s the option with a future.

        • DontBelieveEitherPropaganda

          True, but Erdogan will still try to avoid having to choose at all costs.

          I quote myself:
          “He will NEVER totally break with NATO, because that would mean he would
          have to totally subject himself to Putins will. And despite all the
          happy photos and PR, Russia and Turkey have always been opposed, and
          fought themselves. They may now act pracmatic, but in thruth their
          interests are opposed greatly in important parts.”

          They also said so even in the latest press releases. They dont want to choose, and that is a wise decision for them. Choosing any side would make them much less independent, and all the benefits of military sales and trade Erdogan can get without having to tie himself soley to Russia.

          IF Nato would throw him out, then yes. He will have no choice.

          But most analysts dont think so, Turkey is much to valuable.
          But yes, there are factions in state department and Pentagon, who fight each other over the question if Turkey should be removed from NATO.
          But it seems the fight is still on, and we will see how it ends.

  • Sinbad2

    The constant harping that Russia isn’t saving us from the evil Americans is wearing thin.
    People have to save themselves from the Americans, Putin is fighting for Russia, other countries should follow Russia’s example and fight for themselves, not constantly whinge like Jews for others to fight for them.