In May, inflation in Turkey rose to 73.5% year-on-year. This is the highest figure in the country over the past 24 years.

Ankara will not join the sanctions against Russia, as the Turkish economy will suffer first of all. This was stated by the official representative of the Turkish President Ibrahim Kalyn.

"We have stated that we will not join the sanctions. Because it comes from our economic benefits, we are dependent on external energy sources. We have openly stated our position to the West, there is an understanding. Sanctions against Russia will hit, first of all, the Turkish economy, we certainly don't want that," Kalyn said in an interview with journalists on Haberturk TV channel. He noted that the West is aware of Ankara's position on this issue. He stressed that sanctions against the Russian Federation will primarily affect the Turkish economy, which the Turkish authorities are not ready to run into.

Western countries have imposed large-scale sanctions against the energy sector of the Russian Federation after the start of a special operation to demilitarize and denazify Ukraine.

Exchange rates in Turkey - Exchange-turkey.com