Turkish Court Removes Opposition Leader from Istanbul Mayoral Post

A Turkish court removed Ekrem İmamoğlu from his position as mayor of Istanbul. The ruling came after legal proceedings that focused on prior convictions against the opposition politician. Markets reacted quickly with a broad sell-off in Turkish assets.

U.S. dollar in early trading. Government bond yields rose as investors reduced exposure to Turkish securities. Trading volumes increased across equity and currency markets. Turkish officials stated they are monitoring the situation and will take steps to stabilize investor sentiment. The government said it remains committed to maintaining economic stability following the court decision.

İmamoğlu had been viewed as a leading opposition figure ahead of future elections. His removal from office follows a series of legal cases that began several years earlier. The court decision affects the largest city in Turkey and its municipal administration.

Officials indicated that the next steps for the Istanbul municipality will be handled according to existing legal procedures. No immediate changes to city services were reported.