After being elected into another term in June 2018, President Erdogan of Turkey is getting ready to construct an ambitious new waterway on the European side of Istanbul. The canal will be the third megaproject in the city after a new continent-crossing bridge was completed in 2016 and the world’s largest airport will be finished by the end of the year. Yet, the government’s vision for a new canal also carries extensive geo-economic consequences for the Black Sea domain.