According to sources from Bloomberg, Turkey has halted all trade activities with Israel. This decision, which has not been officially announced, has caused strain in the already contentious relationship between the two countries. In 2018, Turkey recalled its diplomats from Israel and expelled Israel’s ambassador, normalizing relations before deteriorating again during the conflict in Gaza. Last October, Israel withdrew its diplomats from Turkey after President Erdoğan accused Israel of acting like a war criminal. The ongoing trade suspension further complicates the relationship between the two countries.
Turkish officials have stated that all exports and imports between Turkey and Israel have been suspended since Thursday. The value of trade between the two countries was reported to be 6.8 billion dollars in 2023, with Turkish exports to Israel accounting for about 5.4 billion dollars. The Ministry of Trade had initially imposed trade restrictions on Israel due to the conflict in Gaza by banning the export of certain materials to Israel. However, this decision has strained relations even further between Turkey and Israel as well as their economies.
