Turkey’s $25BN Suez Canal Rival

Turkey’s $25BN Suez Canal Rival

Istanbul where Europe meets Asia is a bustling Hub at the core of turkey throughout its history Istanbul has served as the capital for powerful Empires like the Romans byzantines and Ottomans largely because of its strategic location along the famous bosor straight this narrow waterway which divides Europe and Asia connects the Black Sea with the agian and Mediterranean Seas making it crucially important however turkey is now aiming to enhance its strategic position even further the country leader recently announced the start of a massive Canal project that could potentially bypass the BOS per straight entirely so why is turkey investing a whopping 25.5 billion in another Canal today let’s explore turkey’s ambitious and controversial plan to construct a new Canal believe it or not the idea for the canal first came up during the reign of suon The Magnificent from 1520 to 1566 his architect mimar sonan even sketched out plans for it but for reason we don’t know they dropped the project then on March 6 1591 Sultan marad III decided to give it another go and issued an order to start up the work again but just like before they stopped the project without any clear reason in 1644 during sult mad the fourth’s time there was a push to get the canal project moving again but it didn’t happen Sultan Mustafa III tried to kickart the project twice in 1760 but couldn’t get the funds together finally during Sultan mmud II’s reign which lasted from 1808 to 1839 they even set up a special committee to look into the project again they put together a report in 1813 but still no real action was taken the project was brought up again in 1985 when yukel onum a consultant for the energy Ministry floated the idea of building an alternative Waterway to the bosporus in a Turkish standards institution magazine and again in 1990 in the science and Technical magazine of the scientific and technological research Council of turkey on January 17th 1994 right before the local elections bueno sevit from the Democratic left party suggested creating a canal that would link the Black Sea with the Sea of marara finally in June 2021 president recep TAA Drogan announced the canal Istanbul project this canal would be big enough to handle vlcc class vessels but why do they need this canal every year about 41,000 vessels including 8,000 tankers loaded with a 145 million tons of crude oil navigate through the Istanbul straight there’s growing International pressure to boost the amount of marine traffic that passes through the Turkish Straits but this raises safety concerns for ships on their Journey the bossus itself sees nearly three times the traffic of the Suz Canal which leads to heavy congestion and pollutions from ships waiting to pass or dock in the sea of maramara the proposed Istanbul Canal aims to reduce this congestion by handling up to 160 vessel transits daily which mirrors the current traffic in the bosras analysts suggest that a major motivation for the canal is to sidestep the montro convention this agreement limits the military ships that non-black sea countries can send through the bosras and bans Transit tolls in fact the Turkish prime minister announced in January 2018 that the new Canal would not be bound by this convention the canal project also plans to include New Ports logistic centers and artificial Islands made from the excavated soil along with the earthquake resistant residential areas along the canal route it will integrate major transport projects like the halali capule high-speed train and several Metro lines in Istanbul financing for the canal is expected through a build operate transfer model or possibly public private Partnerships the government hopes that the canal will generate about $8 billion us annually from service fees for ship transits however critics like kkut borov argue that the actual profits might be less than expected they’re also concerned about diverting necessary resources from earthquake Readiness and addressing broader economic challenges not to mention the potential negative impacts on the environment but turkey’s influence isn’t limited to just this it also controls the dardanel straight making these Waterway essential trade routes that provide access to the Mediterranean Sea for countries like Georgia Ukraine Russia Romania Bulgaria and others in Central Europe and Central Asia allowing both Commercial and Military vessels to move freely these Straits are vital arteries for Global Food security with Nations such as Kazakhstan Russia and Ukraine exporting significant portions of the world’s wheat through turkey this makes Istanbul one of the most strategically important cities globally given its control over these critical waterways the bosporus and Dells rank among the busiest Maritime corridors highlighting their economic significance and geopolitical relevance however despite this control turkey sees minimal benefits and faces restrictions on their use du the mtro convention of 1936 which following World War I Limited tur’s authority over the bossus by prohibiting tolls and ensuring free passage of Civilian vessels during peace and War speculation suggests that the main reason for constructing the Istanbul Canal is to bypass these restrictions by creating this new Canal turkey could offer the US and NATO an alternative route for Naval deployment into the Black Sea circumventing the montro convention’s limitation announced by President ardogan the canal project includes building a massive $1 billion airport complex with the world’s larg just indoor terminal designed to handle 200 million passengers annually and serve as a major air cargo Hub this move aims to divert traffic from European airports generating substantial Revenue however the Istanbul Canal project has stirred controversy both domestically and internationally with debates over its economic motivations military implications and environmental impacts internationally China views turkey’s potential Canal fees as a competitive threat and Russia content with the current Maritime status quo sees the canal as undermining its Regional dominance especially concerning Ukraine environmental concerns are also significant with potential disruptions to ecosystems salinity imbalances and risks to forests farmland and groundwater some critics argue that turkey’s Istanbul Canal project is an attempt to bypass the montro convention which regulates military ship passage from the Black Sea to the Sea of marara restricting their number tonnage and weaponry to gain greater control over these Naval movements in 2013 the global intelligence company stratfor expressed skepticism about the feasibility of the announced 12 billion budget and the initial operating date of 2023 for such a massive project the project faces opposition from the Istanbul city government and local groups primarily because it threatens Lake durusu a critical source of drinking water for a fifth of the City’s population they also fear it will lead to overcrowding as the local population grows additionally there’s doubt about the e ecomic viability of charging Transit fees to oil and gas tankers given that free Passage through the bosporus is currently guaranteed however turkey might leverage article three of the montro convention which allows for sanitary inspections before ships Transit the BOS verus potentially making the canal a quicker alternative if these inspections are lengthily applied Financial conflicts of interest have also surfaced as Barat albak the former Turkish minister of finance and president ardogan son-in-law has invested invested property along the proposed Canal route which could significantly increase in value due to real estate developments linked to the project Istanbul’s mayor acrma Mago has voiced concerns that the city’s limited Financial Resources would be better spent preparing for an earthquake and addressing economic issues he suggested that the funds allocated for the canal could instead be used to rebuild all of Istanbul’s buildings at risk from earthquakes public sentiment in Istanbul is largely against the project with a survey by Ma K showing that 80.4% of respondents oppose it while only 7.9% support it furthermore in April 2021 10 retired Turkish navy Admirals were arrested following their public criticism of the canal which came after 104 senior former Navy officials signed an open letter warning that the canal could undermine Turkish security by potentially invalidating the mantro convention despite these challenges proponents argue that the canal will relieve the bosporus of heavy tanker traffic and ing safety by providing a straighter more navigable route capable of handling up to 180 ships daily including large tankers this could mitigate the risks linked to bosporus narrow paths and sharp turns the government emphasizes that the new Canal will allow more stringent safety inspections and standards enhancing security for hazardous cargo ships while higher passage fees might apply the time and cost savings for ships choosing this quicker and safer route could prove economically advantageous in the long run we committed to releasing two videos a week like share subscribe and hit the Bell icon for more Visionary builds

Turkey’s 25BN Suez Canal Rival
Istanbul, where Europe meets Asia, is a bustling hub at the core of Turkey. Throughout its history, Istanbul has served as the capital for powerful empires like the Romans, Byzantines, and Ottomans, largely because of its strategic location along the famous Bosporus Strait. This narrow waterway, which divides Europe and Asia, connects the Black Sea with the Aegean and Mediterranean Seas, making it crucially important.

However, Turkey is now aiming to enhance its strategic position even further. The country’s leader recently announced the start of a massive canal project that could potentially bypass the Bosporus Strait entirely. So, why is Turkey investing a whopping $25.5 billion in another canal? Today, let’s explore Turkey’s ambitious and controversial plan to construct a new canal.

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