Turkey may resume trade with Israel if a lasting peace is established in Gaza, says a Turkish economic official, following the truce agreement between Israel and Palestinian resistance movement Hamas.

Nail Olpak, president of the Turkish Foreign Economic Relations Board (DEIK), said on Tuesday that Turkey is open to restarting trade with Israel “if peace is permanent” in Gaza.

This comes after Turkey claimed to have severed ties with Israel in May, citing the genocide in Gaza, and its support for the Palestinian cause.

In November, Turkish President Recep Tayyip Erdogan claimed that his government had cut all ties with Israel due to genocide in Gaza and Israel’s military actions in Lebanon.

Erdogan has been vocal in holding Israeli prime minister Benjamin Netanyahu accountable, asserting that as long as arms shipments to Israel continue, the situation in Palestine and Lebanon will further deteriorate.

Despite Turkey’s claims of severing relations, trade data shows a stark contrast.

While Turkey’s exports to Israel have reportedly dropped to zero, exports to Palestine have surged significantly. Additionally, reports indicate that Turkish arms were sold to Israel as recently as January 2024, coinciding with heightened conflict in the region.

Erdogan previously asserted that he had ended Turkey’s trade with Israel, which was reportedly valued at $10 billion annually.

However, investigations suggest that Turkish vessels have continued to transport goods to Israel under the guise of heading to Port Said in Egypt, with some ships switching off their transponders to dock at Israeli ports.

The Turkish parliament has also seen members like Omer Faruk Gergerlioglu challenge the government’s narrative, revealing that Turkey remains a key oil supplier to Israel.

“Ships reportedly simulated deactivating their locators and signaled a course toward Italy; however, satellite imagery analysis revealed that the Nissos Delos and Seavigor were actually en route to the ports of Haifa and Ashdod in the occupied territories, transporting oil,” Gergerlioglu said on Monday. 

Earlier, he revealed that the Turkish government was attempting to conceal its trade activities with Israel, noting that oil from Azerbaijan was being sold to Israel through Turkey, with Turkey profiting from the transaction.

Earlier this year, Turkey intervened in a case against Israel at the International Court of Justice (ICJ) in support of Palestine and advocated for an arms embargo against Tel Aviv.

As these developments unfold, the Turkish government’s stance on trade with Israel continues to raise questions, especially in light of its political rhetoric surrounding the Palestinian cause.