The Treaty of Lausanne was signed on July 24, 1923, marking the end of the conflict following World War I. It established the boundaries of modern-day Turkey and recognized its sovereignty. The treaty replaced the earlier Treaty of Sèvres, which had imposed harsh terms on the Ottoman Empire. The treaty also addressed issues such as minority rights and the status of Istanbul, ensuring protections for various ethnic groups. It played a crucial role in shaping the political landscape of the region and laid the groundwork for the establishment of the Republic of Turkey in 1923.