A Turkish appeals court annulled the 2023 congress of the Republican People's Party, effectively removing its leader Ozgur Ozel and reinstating former chairman Kemal Kilicdaroglu. The decision deals a significant blow to the main opposition movement against President Tayyip Erdogan and has raised fresh concerns about the state of democracy in Turkey.

The ruling overturned an earlier decision that had dismissed allegations of irregularities in the party congress. Ozel denounced the move as 'a coup against the people' and said the party would challenge the verdict before the Supreme Court of Appeals. Senior party figures described the decision as judicial interference aimed at undermining the will of voters.

The political turmoil rattled financial markets, with Istanbul's main stock index dropping sharply and triggering a temporary trading halt, while government bonds weakened. The central bank reportedly intervened in foreign exchange markets to stabilize the currency. Analysts warned that renewed instability could weigh on investor confidence.

The case adds to mounting pressure on the opposition, which has faced widespread detentions and legal action in recent years. The controversy could deepen divisions within the party and potentially strengthen Erdogan's position as he seeks to extend his more than two decades in power.