{"id":68710,"date":"2026-09-23T00:51:45","date_gmt":"2026-09-23T00:51:45","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr-mena\/uncategorized\/abd-hazine-bakanligi-iran-yaptirimlarini-sertlestirdi-piyasalar-de-dolarizasyon-risklerini-fiyatlarken-ikincil-yaptirim-tehdidi-gundemde\/"},"modified":"2026-09-23T00:51:45","modified_gmt":"2026-09-23T00:51:45","slug":"abd-hazine-bakanligi-iran-yaptirimlarini-sertlestirdi-piyasalar-de-dolarizasyon-risklerini-fiyatlarken-ikincil-yaptirim-tehdidi-gundemde","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/abd-hazine-bakanligi-iran-yaptirimlarini-sertlestirdi-piyasalar-de-dolarizasyon-risklerini-fiyatlarken-ikincil-yaptirim-tehdidi-gundemde\/","title":{"rendered":"ABD Hazine Bakanl\u0131\u011f\u0131 \u0130ran yapt\u0131r\u0131mlar\u0131n\u0131 sertle\u015ftirdi; piyasalar de-dolarizasyon risklerini fiyatlarken ikincil yapt\u0131r\u0131m tehdidi g\u00fcndemde"},"content":{"rendered":"

ABD Hazine Bakanl\u0131\u011f\u0131, dolar\u0131 yapt\u0131r\u0131m arac\u0131 olarak kullanma dozunu art\u0131r\u0131yor. Bakan Scott Bessent, 23 Eyl\u00fcl \u00c7ar\u015famba g\u00fcn\u00fcnden itibaren \u201cD\u00fcnyan\u0131n her yerindeki t\u00fcm \u0130ran havayollar\u0131 kapat\u0131lacak\u201d dedi. Yak\u0131t temini, ini\u015f hizmetleri veya biletleme sa\u011flayan \u015firket ya da \u00fclkelerin ikincil yapt\u0131r\u0131mlarla kar\u015f\u0131 kar\u015f\u0131ya kalabilece\u011fi ve dolar sisteminin d\u0131\u015f\u0131na itilebilece\u011fi uyar\u0131s\u0131nda bulundu. Bu \u00f6nlemler; enerji, deniz ta\u015f\u0131mac\u0131l\u0131\u011f\u0131, k\u0131ymetli metaller, kripto ve imalat dahil sekt\u00f6rlere yay\u0131lan daha geni\u015f ABD tehditleriyle birlikte de\u011ferlendiriliyor. ABD; varl\u0131k dondurma, ABD\u2019li kar\u015f\u0131 taraflarla i\u015flemlere limit getirme, yabanc\u0131 bankalar\u0131n ABD hesaplar\u0131na eri\u015fimini k\u0131s\u0131tlama ve ba\u015fkanl\u0131k kararnameleri kapsam\u0131nda Yabanc\u0131 Varl\u0131klar Kontrol Ofisi\u2019nin (OFAC) \u00d6zel Olarak Belirlenmi\u015f Ki\u015filer ve Engellenmi\u015f Ki\u015filer (SDN) Listesi\u2019ne ekleme gibi ara\u00e7larla bu politikalar\u0131 destekliyor. M\u00fcttefik i\u015f birli\u011fiyle, yapt\u0131r\u0131m uygulanan kurulu\u015flar uluslararas\u0131 dolar sisteminde s\u0131n\u0131r \u00f6tesi \u00f6deme mesajla\u015fmas\u0131n\u0131n omurgas\u0131n\u0131 olu\u015fturan SWIFT (Society for Worldwide Interbank Financial Telecommunication) sisteminden de \u00e7\u0131kar\u0131labiliyor.<\/p>\n\n

Metin, bu politikalar\u0131 \u201cde-dolarizasyon\u201d ile ili\u015fkilendirerek; Rusya\u2019n\u0131n Ukrayna\u2019y\u0131 i\u015fgalinin ard\u0131ndan merkez bankalar\u0131n\u0131n alt\u0131n al\u0131mlar\u0131n\u0131n artt\u0131\u011f\u0131na ve akabinde ABD, AB, Birle\u015fik Krall\u0131k ve Kanada\u2019n\u0131n koordineli \u015fekilde \u201cse\u00e7ili\u201d Rus bankalar\u0131n\u0131 SWIFT\u2019ten \u00e7\u0131karmas\u0131na i\u015faret ediyor. Ayr\u0131ca alt\u0131n\u0131n, ABD Hazine tahvillerini geride b\u0131rakarak k\u00fcresel \u00f6l\u00e7ekte en b\u00fcy\u00fck rezerv varl\u0131k haline geldi\u011fini; son aylarda Hazine tahvillerine talebin zay\u0131flad\u0131\u011f\u0131n\u0131 ve uzun vadeli faizlerin 2007\u2019den beri g\u00f6r\u00fclen seviyelere t\u0131rmand\u0131\u011f\u0131n\u0131, buna paralel olarak ABD\u2019nin faizleri a\u015fa\u011f\u0131 \u00e7ekmeye y\u00f6nelik m\u00fcdahalelerinin de sonu\u00e7suz kald\u0131\u011f\u0131n\u0131 belirtiyor.<\/p>\n\n

Dolar\u0131n Silahla\u015ft\u0131r\u0131lmas\u0131nda T\u0131rman\u0131\u015f ve K\u00fcresel Piyasalara Yans\u0131mas\u0131<\/h3>\n\n

Hazine Bakan\u0131 Scott Bessent\u2019in \u0130ran havayollar\u0131n\u0131 agresif bi\u00e7imde kapatmaya y\u00f6nelik ad\u0131m\u0131n\u0131n bug\u00fcn, 23 Eyl\u00fcl 2026 itibar\u0131yla y\u00fcr\u00fcrl\u00fc\u011fe girmesiyle, dolar\u0131n bir silah olarak kullan\u0131lmas\u0131nda benzeri g\u00f6r\u00fclmemi\u015f bir t\u0131rman\u0131\u015fa tan\u0131kl\u0131k ediyoruz. Uyum g\u00f6stermeyen yabanc\u0131 kurumlar\u0131n SWIFT ve dolar a\u011flar\u0131ndan d\u0131\u015flanmas\u0131na d\u00f6n\u00fck bu sert yakla\u015f\u0131m, k\u00fcresel de-dolarizasyon s\u00fcrecini ka\u00e7\u0131n\u0131lmaz olarak h\u0131zland\u0131racakt\u0131r. Uluslararas\u0131 akt\u00f6rlerin \u00f6n\u00fcm\u00fczdeki haftalarda ABD dolar\u0131 riskini azaltmak i\u00e7in pozisyon de\u011fi\u015ftirmesiyle d\u00f6viz ve emtia piyasalar\u0131nda k\u0131sa vadede oynakl\u0131\u011f\u0131n artmas\u0131n\u0131 bekliyoruz.<\/p>\n\n

Yapt\u0131r\u0131mlar ve De-Dolarizasyona Yan\u0131t Olarak \u0130\u015flem \u00d6nerileri<\/h3>\n\n

T\u00fcrev piyasas\u0131 yat\u0131r\u0131mc\u0131lar\u0131na, alt\u0131nda s\u00fcrecek y\u00fckseli\u015fe g\u00fc\u00e7l\u00fc \u015fekilde pozisyon al\u0131nmas\u0131n\u0131 \u00f6neriyoruz. Merkez bankalar\u0131, Washington\u2019un finansal yapt\u0131r\u0131mlar\u0131na kar\u015f\u0131 korunma amac\u0131yla son y\u0131llarda rekor d\u00fczeylerde alt\u0131n al\u0131m\u0131 ger\u00e7ekle\u015ftirdi; k\u00fcresel resmi al\u0131mlar y\u0131ll\u0131k ortalama 1.000 metrik tonun \u00fczerine \u00e7\u0131kt\u0131. Alt\u0131n vadeli i\u015flemlerinde uzun vadeli al\u0131m opsiyonlar\u0131 (call) almak, metalin \u201cnihai alternatif rezerv varl\u0131k\u201d rol\u00fcn\u00fc peki\u015ftirdi\u011fi bu d\u00f6nemde en g\u00fc\u00e7l\u00fc \u00f6nerilerimizden biri olmaya devam ediyor.<\/p>\n\n

Ayr\u0131ca, yabanc\u0131 talebin istikrarl\u0131 bi\u00e7imde kurudu\u011fu ABD Hazine tahvili piyasas\u0131nda bozulman\u0131n derinle\u015fmesine kar\u015f\u0131 haz\u0131rl\u0131kl\u0131 olmak gerekiyor. 10 y\u0131ll\u0131k tahvil faizleri \u015fu anda %4,8 civar\u0131ndaki kritik zirveleri zorlarken, tahvil fiyatlar\u0131 \u00fczerindeki a\u015fa\u011f\u0131 y\u00f6nl\u00fc bask\u0131n\u0131n artmas\u0131 bekleniyor. T\u00fcrev yat\u0131r\u0131mc\u0131lar\u0131, uzun vadeli tahvil ETF\u2019lerinde sat\u0131m opsiyonu (put) almay\u0131 veya y\u00fckselen faizlerden faydalanmak i\u00e7in tahvil vadeli i\u015flemlerinde k\u0131sa (short) pozisyonu de\u011ferlendirmeli.<\/p>\n\n

Buna ek olarak, \u0130ran\u2019\u0131n ekonomik altyap\u0131s\u0131na y\u00f6nelik do\u011frudan tehditlerin k\u00fcresel enerji piyasalar\u0131n\u0131 bozma olas\u0131l\u0131\u011f\u0131 y\u00fcksek. Tarihsel olarak Orta Do\u011fu\u2019daki gerilim t\u0131rman\u0131\u015flar\u0131, \u00f6nceki yapt\u0131r\u0131m dalgalar\u0131nda g\u00f6r\u00fclen fiyat \u015foklar\u0131na benzer \u015fekilde ham petrol fiyatlar\u0131nda ani s\u0131\u00e7ramalara yol a\u00e7\u0131yor. Bu ka\u00e7\u0131n\u0131lmaz jeopolitik risk priminden yararlanmak i\u00e7in Brent ve WTI ham petrolde yak\u0131n vadeli al\u0131m opsiyonlar\u0131 (call) ta\u015f\u0131nmas\u0131n\u0131 \u00f6neriyoruz.<\/p>\n\n

Son olarak, ikincil yapt\u0131r\u0131mlar\u0131n ikili ticareti yerel para birimlerine daha fazla itmesiyle ABD dolar endeksi i\u00e7in dalgal\u0131 bir d\u00f6neme girilece\u011fini \u00f6ng\u00f6r\u00fcyoruz. Emtia destekli para birimlerine veya \u0130svi\u00e7re Frang\u0131 gibi g\u00fcvenli limanlara kar\u015f\u0131 dolar\u0131n de\u011fer kayb\u0131na oynayan sat\u0131m opsiyonlar\u0131 (put), ani dolar zay\u0131flamas\u0131na kar\u015f\u0131 stratejik bir koruma sa\u011flayabilir. Dolar k\u0131sa pozisyonlar\u0131n\u0131n korunmas\u0131, yurti\u00e7inde enflasyon \u015fokuna ba\u011fl\u0131 portf\u00f6y risklerini s\u0131n\u0131rlamaya yard\u0131mc\u0131 olacakt\u0131r.<\/p>\n\n\n\n

Hemen i\u015flem yapmaya ba\u015flay\u0131n \u2014 ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in buraya<\/a> t\u0131klay\u0131n.<\/b>\n\n<\/p>","protected":false},"excerpt":{"rendered":"

Dolar \u015foku kap\u0131da: ABD, \u0130ran havayollar\u0131n\u0131 kapat\u0131p ikincil yapt\u0131r\u0131mlar\u0131 sertle\u015ftiriyor; SWIFT\/dolar d\u0131\u015flama tehdidi de-dolarizasyonu h\u0131zland\u0131rabilir. Alt\u0131n y\u00fckseli\u015fi, tahvil sat\u0131\u015f\u0131 ve petrol oynakl\u0131\u011f\u0131 \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n","protected":false},"author":87,"featured_media":49971,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-68710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t