Turkish coup could have far-reaching impact
The response of Turkish President Recep Tayyip Erdogan to the failed coup is being monitored by EU leaders. (EC)
Crude oil and gas prices, weighed down by an ongoing glut of supply, barely responded to the failed coup in Turkey on 15 July. But Turkish President Recep Tayyip Erdogan’s response to it is being closely monitored by world leaders and could have far-reaching geopolitical implications.
The failed coup has been followed by 7,500 arrests and a threat that Turkey will reinstate the death penalty. This has led Washington to openly question whether Turkey should remain a member of NATO, while EU leaders have suggested that the Turkish government’s actions may be incompatible with EU membership.