The Great Turkish War of 1683–99 saw the Ottoman Empire lose large areas of territory in Hungary and Transylvania after a defeat at the hands of a united Christian army of the Holy League. In 1724, the Ottomans took territory from the Safavid Dynasty of Iran during a period of internal turmoil, however it was retaken in 1730. From this point onwards the Ottoman Empire enjoyed a period of stability and reform before the start of its decline. A series of conflicts with Russia in the remainder of the 18th century ended in territorial losses, enabling Russia to fully establish its Black Sea presence. Revolutions in the Balkans further stretched the Empire’s reach, leading to its characterization as the sick man of Europe by the mid 19th century. The Crimean War was financially devastating and began a period of borrowing that culminated in state bankruptcy in 1875, followed by a series of further territorial losses.
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