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Erdogan Meets Putin in Sochi to Push Syria Operation

Russian President Vladimir Putin hosts his Turkish counterpart, Recep Tayyip Erdogan, today (Friday August 5) in the Russian resort town of Sochi, with the two leaders set to discuss military invasions—both potential and ongoing, the Foreign Policy reported.
Putin and Erdogan last met less than three weeks ago in the Iranian capital, Tehran. Despite their differences over the war in Ukraine - Ankara is a major arms supplier to Kyiv - their countries have made diplomatic strides.
The two men have good reasons to keep up a good working relationship. For Putin, Erdogan serves as a reliable spoiler on NATO policy as well as a willing customer for Russian gas, the Foreign Policy said.
For Erdogan, Putin helps showcase Turkey’s independent foreign policy as well as keep the lights on at home: Russia supplies 45 percent of Turkey’s gas, and Russia’s Rosatom is constructing a nuclear plant on Turkey’s Mediterranean coast, which is expected to power 10 percent of the country’s domestic energy needs when fully operational.
Today’s talks are expected to continue a topic pursued in Tehran: Turkey’s impending invasion of Syria. In an echo of Moscow’s description of its war in Ukraine, Ankara describes the incursion as a “special military operation.”

Erdogan has stated his desire to establish a 30-kilometer [19-mile] deep “security zone” that extends from the Turkish border into Syrian territory and one that is likely to come dangerously close to Russian, Syrian, and Iran-backed forces.
Today’s meeting can be seen as another attempt by Erdogan to deconflict with a major military power before going all in.
Vladimir Putin heads to Tehran for talks with leaders of Iran and Turkey
“Erdogan really wants to get his ducks in a row so he can launch a further operation in northern Syria, and he really needs to make sure that there’s no risk of Russia intervening in direct opposition to Turkish forces,” Howard Eissenstat, a Turkey expert at St. Lawrence University and the Middle East Institute, told Foreign Policy.
There’s an obvious electoral benefit for Erdogan in stirring up nationalism before an election, but there’s more at stake than optics, Eissenstat said.
“There’s a profound sense from the national security establishment that the YPG needs to be ended, in particular because of its relationship with the U.S., and as a political determination on the part of the AKP to appear to be doing something with regard to refugees,” he said.
Erdogan's "Safe Zone" as an umbrella for terrorists and jihadi outfit
The United States, which considers the YPG a key partner in its war against the Islamic State in Syria, has repeatedly cautioned against the incursion. But, Eissenstat said—despite the leverage Washington has over Turkey in terms of military sales and economic might—the decision might be one the White House is unwilling to make given the many sensitive diplomatic issues at play.
Eissenstat cautioned against underestimating Ankara’s will, no matter what Washington thinks. “I think that we often assume that the biggest kid in the room gets to decide who gets the cookies, but sometimes it’s who’s closest—and who wants it more.”
Source: foreignpolicy
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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