Turkey Reaffirms Support for Ukraine Peace Deal

Speaker Numan Kurtulmus made the comments at a media iftar event, saying Turkey supports Ukraine’s territorial integrity and favors a “lasting, just peace” acceptable to both sides. The language is familiar, but its value lies in what it does not say: there is still no sign of a diplomatic formula that can bridge Moscow’s demands, Kyiv’s red lines and Western sanctions policy.

That aligns with the broader backdrop. Russia has dismissed the chances of a peace deal after fresh U.S. sanctions, while Ukrainian President Volodymyr Zelenskiy continues to push Washington for tougher pressure on Moscow. Moscow says Europe and Ukraine are not serious about a settlement; Kyiv and its allies say Russia is buying time. The result is a negotiation framework with no obvious landing zone.

For markets, the implication is that war-related dislocations remain a durable theme rather than a short-lived shock. Defense spending, energy security, logistics diversification and Black Sea risk management remain the obvious beneficiaries. The losers are any assets still priced for a fast normalization in regional trade, shipping and agricultural flows.

Turkey’s position also matters because Ankara has tried to keep channels open to both sides while preserving its own strategic leverage. That balancing act supports Turkey’s role as a diplomatic intermediary, but it also means investors should not expect a dramatic policy pivot that would quickly unlock de-escalation.

The trade remains the same: stay exposed to the winners from a prolonged geopolitical fracture, and treat any headline about peace talks as tactical unless it is backed by verifiable concessions from both Moscow and Kyiv. Until then, this is a market where the beneficiaries of instability are still better positioned than the names betting on a quick settlement.