Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 73

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 73
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 as well as certain requirements specific to online
content (the “ Internet Law”). A number of laws and regulations impacting e-commerce and digital businesses in
Türkiye have been enacted since 2007, including amendments to the Internet Law, a law on regulation of e-commerce stipulating
the obligations of e-commerce operators (the “ E-commerce Law”), various laws to protect personal data and laws on
electronic payments, among others. Additionally, significant amendments to the E-commerce Law were enacted on July 1, 2022.
However, unlike in the United States, little case law exists around the Internet Law and E-commerce Law and existing jurisprudence
has not been consistent and may not reflect the latest amendments or additional legislation. Legal uncertainty arising from the
limited guidance provided by current laws in force allows for different judges or courts to decide very similar claims in different
ways and establish contradictory jurisprudence. This creates legal uncertainty and could set adverse precedents, which individually
or in the aggregate could have a material adverse effect on our business, results of operations and financial condition. In
addition, legal uncertainty may negatively affect our customers’ perception and use of our services.

If regional instability continues to spread,
our operations could be adversely affected.

We conduct substantially all of our operations
in Türkiye. In February 2022, Russia invaded Ukraine and the resulting war is ongoing. The war in Ukraine has already had, and likely
will continue to have, a material impact on geopolitical relationships and global economic and market conditions, including increased
inflation, volatility in interest and exchange rates, and global supply chain challenges. It is also possible that the war in Ukraine
could lead to further military conflicts, particularly involving Eastern Europe, leading to additional economic disruption.

Following the invasion of Ukraine, the United
States, the EU, Canada, Japan, and Australia have imposed sanctions on Russia, select Russian companies and select Russian nationals.
For example, on March 8, 2022, U. S. former President Biden announced that the United States would ban imports of Russian crude oil
and certain petroleum products, liquefied gas, and coal. Furthermore, other sanctions that have been imposed by other countries including,
United Kingdom, Canada and European countries, include, among others, freezing of the assets of the central bank of Russia, banning of
all transactions with the central bank of Russia, and removing certain Russian banks from the swift messaging system, restrictions on
access to financing by Russian entities, controls on exports to Russia