Turkey has arrested Istanbul Mayor Ekrem İmamoğlu, the main rival of President Recep Tayyip Erdoğan, on charges of corruption and aiding a terrorist organization, in a move that the opposition on Wednesday described as a "coup against our future president."
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This step follows a months-long legal campaign against opposition figures across the country, which has been described as a politically motivated attempt to weaken their electoral chances and silence critics.
The Turkish lira collapsed by 12%, reaching 42 against the dollar, its lowest level ever, reflecting concerns about the erosion of the rule of law in Turkey, a major emerging country and NATO member governed by Erdoğan for 22 years.
İmamoğlu, 54, was set to be officially declared the presidential candidate for the Republican People's Party (CHP) within days. However, he now faces two separate investigations involving charges of leading a criminal organization, bribery, and bid-rigging.
In a handwritten message posted on social media, İmamoğlu stated that the Turkish people would respond to the "lies, conspiracies, and traps" against him. Before heading to the police station, he added, "I will not give in under pressure."
Justice Minister Yılmaz Tunç warned against linking Erdoğan to İmamoğlu's arrest or other legal actions, criticizing the use of the term "coup" to describe it and cautioning against street protests.
Despite a temporary ban on protests and the police closing some streets in the city, hundreds of people gathered outside the police station, chanting: "The day will come when the AKP [Justice and Development Party] will be held accountable."
Republican People's Party leader Özgür Özel said the party would announce İmamoğlu as its presidential candidate on Sunday, regardless of the circumstances, adding: "Turkey is witnessing a coup against its future president. We are facing a clear coup attempt."
The presidential elections are scheduled for 2028, but Erdoğan has reached the maximum of two presidential terms after previously serving as prime minister. If he wishes to run again, he must either call for early elections or amend the constitution.
Erdoğan suffered his biggest electoral defeat in the municipal elections last year, with the Republican People's Party winning a landslide victory in major cities, including defeating Erdoğan's AKP in its traditional strongholds.
Wolfango Piccoli, head of the Teneo consultancy firm, said: "What is happening today proves that Erdoğan’s personal agenda remains the top priority, no matter the cost."
Germany, France, and the Council of Europe have condemned İmamoğlu’s arrest, while Human Rights Watch described the charges as "politically motivated and false," calling for his immediate release.
Market reactions included a sharp decline in the stock market: Istanbul stocks fell more than 5%. The lira dropped significantly, experiencing one of its worst daily declines, settling at 38 against the dollar by 11:55 GMT. The central bank sold $8-10 billion to protect the lira, according to banking sources.
The Istanbul Prosecutor’s Office announced two investigations: the first accuses 100 individuals, including journalists and businessmen, of committing corruption related to municipal tenders, while the second charges İmamoğlu and six others with aiding the PKK, which Turkey and its Western allies classify as a terrorist organization.
The government has appointed a substitute to head Istanbul’s municipality, although İmamoğlu may be temporarily released in the coming days, pending a court decision.
Just one day before his arrest, his political career suffered another blow when Istanbul University revoked his university degree, which could prevent him from running for the presidency if the decision is upheld.
**Will This Impact the Peace Process with the Kurds?**
At the same time, the Turkish government is seeking to end the decades-long armed insurgency with the PKK, after its imprisoned leader called for disarmament last month, a step that could be crucial for regional peace.
However, İmamoğlu’s arrest on charges of collaborating with the Kurds may complicate any democratic steps towards ending the conflict, with the Peoples' Democratic Party (HDP), the third-largest party in parliament, warning that his continued detention "will derail peace efforts."
