UPDATE 2-Turkey court rules to oust opposition leader in latest blow to Erdogan's challengers

A Turkish court effectively ousted the main opposition leader Ozgur Ozel on Thursday, annulling the ‌2023 party congress that elected him chairman in a ruling that dealt a blow to President Tayyip Erdogan's challengers and hit financial markets.

A Turkish court effectively ousted the main opposition leader Ozgur Ozel on Thursday, annulling the ‌2023 party congress that elected him chairman in a ruling that dealt a blow to President Tayyip Erdogan's challengers and hit financial markets. The appeals court annulled the congress over irregularities and ruled that former Republican People's Party (CHP) Chairman Kemal Kilicdaroglu - a divisive figure within the party who ‌lost to Erdogan in an election earlier in 2023 - should replace his successor Ozel.

The case was seen as a test of Turkey's ‌shaky balance between democracy and autocracy, and the ruling may throw the opposition into further disarray and possible infighting. It could also boost Erdogan's chances of extending his more than two-decade rule of the big NATO member country and major emerging market economy. OPPOSITION HIT BY JUDICIAL CRACKDOWN

The CHP, running roughly even with Erdogan's ruling AK ⁠Party in ​polls, has separately faced an unprecedented ⁠judicial crackdown since 2024 in which hundreds of members and elected officials have been detained as part of corruption charges that the party denies. Among those imprisoned for more ⁠than a year is Istanbul Mayor Ekrem Imamoglu, who is seen as the main rival of Erdogan and remains the CHP's official candidate for a ​presidential election set for 2028 but that could come next year.

After the court ruling, Ozel convened party leaders to discuss possible ⁠steps and members were called to the CHP headquarters building in Ankara to protest against it. Ali Mahir Basarir, CHP deputy parliamentary group chair, told Reuters the ruling "is ⁠an ​attempted coup carried out through the judiciary (and) a blow against the will of 86 million people."

The party rejected the ruling, he said, adding that those who signed off on it were "complicit in this coup attempt and will be held accountable before the courts". Turkey's main ⁠Borsa Istanbul .XU100 dropped 6% in response, triggering a market-wide circuit breaker, while Turkish government bonds slid. Sovereign bonds sold off as much as 1.2 cents ⁠US900123BG46=TE, US900123CB40=TE, which for many ⁠was the biggest fall since late March.

The ruling by the Ankara court overturned a decision last year by a court of first instance that said the case surrounding the CHP's 2023 congress had no ‌substance.